Atlanta, GA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, arranges the sale of Magnolia Hall Apartments for $6.1M. The property is located at 756 Mimosa Blvd, in Roswell, GA. Senior Associate of Multifamily Austin Graham and Executive Vice President & Managing Director David Harrington brokered the transaction.
The Magnolia Hall apartments are located near historic Downtown Roswell. The multifamily property boasts easy access to the Georgia State Route 9 and 120, the Chattahoochee River National Recreation Area, and Roswell Town Center. The asset consists of 48 units built in 1964.
“This particular property is unique in that it is one of the few, older vintage garden-style properties in Historic Downtown Roswell,” explained Senior Associate Austin Graham. “With most of the supply in the area being Class A, new construction units, the buyer will benefit by being able to take advantage of significant rental upside while still remaining the affordable rental option.”
The seller, CGI Strategies, a firm out of Woodland Hills, CA, decided to dispose of the property because it did not match the other properties in their portfolio, as their other assets are typically much larger. The buyer, Zevulon Capital, is based out of Atlanta, GA, and was sourced by Matthews™ agents. The buyer was interested in adding another well-located value-add deal to his growing Atlanta portfolio. Matthews™ previously brokered the sale of Lancashire Court, a 64-unit multifamily property in Stone Mountain, GA that sold for $3.93M, for the same buyer.
“We are pleased to have facilitated a smooth escrow process while brokering this deal,” said Executive Vice President & Managing Director David Harrington. “Thanks to our cutting-edge marketing practices combined with our highly collaborative culture, we were ultimately able to broker the deal in a way in which both buyer and seller were satisfied.”
For more information regarding this sale or if you have any other questions related to multifamily investment assets, please do not hesitate to reach out to Austin Graham and David Harrington. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales and leasing. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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