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Category: Apartments, Multifamily Tags: Ashlyn Laney, Connor Kerns
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Located Outside of University of Georgia Campus

 

Athens, GA— Matthews Real Estate Investment Services, a commercial real estate investment services and technology firm, completed the $8,850,000 sale of Argo Apartments at 2085 South Milledge Ave, Athens, GA. The two-story property includes 142 units and is located nearby the University of Georgia. Associate Ashlyn Laney and Associate Vice President Connor Kerns facilitated the transaction.

 

The buyer, a seasoned investment group, specializing in value-add properties and new developments, purchased the property as an up-leg utilizing capital gains from a previous property sold with the assistance of Matthews™. Argo Apartments was sold by a partnership local to Athens looking to relinquish the property and modify its portfolio.

 

“Argo Apartments offers the buyer a value-add opportunity to convert several down units being used as storage into operating residential units to increase the cash flow further,” said Laney. “Additionally, there is plenty of land left on the parcel and a 15,000 SF three-story building, opening the door to add amenities and/or more units.”

 

The property is in a prime location in Athens, just 1.6 miles from the University of Georgia’s campus, attracting both student and market-rate tenants. Argo Apartments is also nearby multiple retailers and shopping centers, including the Shops of South Athens and The Falls of Oconee.

 

“The combination of our relationships and activity in the Multifamily investment sales space throughout Georgia allowed us to navigate this deal to a successful closing through this volatile market. We were able to successfully accomplish the goals of both the buyer and seller with this transaction,” said Kerns.

 

For more information, or to contact Ashlyn Laney and Connor Kerns, please visit www.matthews.com.

 

 

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the United States, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

 

 

 

 

PRESS CONTACT
Kaylee Stock
(701) 429-7462
[email protected]

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