The transaction was part of a 1031 Exchange by buyer Fifield Co.of Chicago with Macon, GA-based Hathaway Co. The price of thefour-year-old asset equates to $69,250 per unit, or $62.67 per sffor the 220,984-sf property. Walden Hills was 85% occupied atclosing. The asking average base rent range is $768 to $1,026 permonth.
John Brown, a senior investment specialist in Marcus &Millichap's Atlanta office, had the exclusive listing, representingthe seller. Brown also found the buyer. He is also a seniordirector of Marcus & Millichap's National Multi Housing Group,a division of the company that focuses on multi-family investmentsales. The division participated in the sale of 2,100 apartmentproperties valued at about $5.1 billion in 2003, according toBrown.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
