Atlanta Real Estate News category interest

Two portfolios totaling five properties and 1,234 units were sold by Harbor Group International for $159.7 million. Three of the apartment complexes were purchased by LRE Management LLC, while the other two were bought by Greybrook.

CBRE’s Shea Campbell, Ashish Cholia, Kevin Geiger, Keith Geiger, Colleen Hendrix, Don Hoffman, Malcolm McComb, and Kurt McGarry represented the seller on both transactions.

Geiger added, “Most everyone in the multi-housing industry has acknowledged that there will be a shortage of housing over the next five years – and certainly, the new owners of these five properties are going to experience great value appreciation.”

The largest of the two transactions involved LRE Management buying three properties with 778 total units for $102.5 million. The portfolio includes Peachtree Landing in Fairburn (photo), Eastwood Village in Stockbridge, and Monterey Village in Jonesboro. The smaller transaction, executed by Greybrook, includes Meadow Springs and Meadow View, both in College Park. The two properties have 456 apartment units combined and were purchased for $57.2 million.