Georgia apartment portfolio sold

Properties less than 4 years old
Published on Jul 21, 2004

Marcus & Millichap negotiated the sale of the 1,026-unit Land South apartment portfolio in the Atlanta metropolitan area. The value of the transaction was approximately $84.2 million. A Macon, Ga.-based private investor sold the three-property portfolio to Houston-based Creekstone Cos. Preston Landing at Sweetwater, located at 1100 Preston Landing Circle, is a 240-unit garden-style apartment community situated on 33.3 acres in Douglasville, Ga. The property, built in 2003, consists of nine three- and four-story apartment buildings and a separate community clubhouse and leasing center. The property features a resort-like swimming pool, fitness center, lighted tennis court, separately enclosed garage units and a spacious rolling landscape. Preston Landing offers one-, two- and three-bedroom floor plans, ranging from 866 to 1,441 square feet. Preston Park at Satellite, located at 2110 Preston Park Drive, is a 440-unit garden-style apartment community located just 20 miles northe...

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