Windjammer property sold in Atlanta

Marcus & Millichap negotiated the sale of the Windjammer Apartments in Atlanta.

The 320-unit community sold for $10.4 million and will undergo a $14 million to $18 million renovation.

Windjammer Apartments is located at 3200 Stone Road. The 340,400-square-foot property was constructed in 1972 on approximately 23 acres. The unit mix consists primarily of large two-bedroom apartments with 48 one-bedroom, 264 two-bedroom and eight three-bedroom units, which range in size from 970 to 1,400 square feet. Community amenities include a pool, spa and recreation area.  more...

Bascom, JP Morgan sell apartments

Hendricks & Partners arranged the sale of South Hills, an 85-unit apartment community in West Covina, Calif.

The value of the transaction was $13.5 million.

Irvine, Calif.-based The Bascom Group, in partnership with New York-based JP Morgan, sold the 2928 East Virginia property to San Diego-based MG Properties.

Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties.

Colonial bags multifamily portfolio

Colonial Properties Trust acquired five multifamily communities totaling 1,091 units in Atlanta.

The total value of the transactions was not disclosed.

Roberts Realty Investors Inc. was the seller.

One of the properties, Preston Oaks, is located just outside the perimeter in the prestigious Dunwoody sub-market. The other four properties, Bradford Creek, Plantation Trace, River Oaks and Veranda Chase, are located in the Gwinnett sub-market.  more...