(To read more on the multifamily market, click here.)
ATLANTA-Locally based private investor Uptown Buckhead LLC hasacquired the 216-unit Ivy Chase apartment complex just north of theintersection of Piedmont Road and Roswell Road for $20.3 million.The seller was private investor Ivy Chase Associates LLC .
Ivy Chase Associates was represented in the transaction bylocally based Transwestern investment service brokers and managingdirectors Mike McGaughy and Jon Kleinberg. Kleinberg tellsGlobeSt.com that the property was sold because it was time in theinvestment cycle to sell the property. He adds that the buyer plansto make some capital improvements to the property's interior andexterior in an effort to rise rents. "The buyer felt it was a goodopportunity to buy property in a good location," he says.
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