John Brown, a senior director of Marcus & Millichap'sNational Multi Housing Group, brokered the sale and representedbuyer and seller. Brown had the exclusive listing and found thebuyer after "an extensive marketing campaign," he says.

"Each of these class A properties are among the highest-qualityofferings in their respective submarkets," Brown adds. "Theyfeature luxury amenities that appeal to tenants, as well as havingexceptional locations in high-grown submarkets."

The acquired portfolio comprises Preston Landing at Sweetwater,a one-year-old, 240-unit garden-style apartment community at 1100Preston Landing Circle on 33.27 acres in Douglasville, GA; PrestonPart at Satellite, a two-year-old, 440-unit garden-style communityon 41.8 acres at 2110 Preston Park Drive, 20 miles northeast ofDowntown Atlanta in Duluth, GA; and Preston Pointe at Windemere, afour-year-old, 346-unit, garden-style complex at 3100 PrestonPointe Way in Cumming, GA.