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.

NuRock Inc., an affordable housing developer, acquired the property from World Capital Inc. NuRoc is receiving $16 million in funding assistance from the Fulton County Development Authority to renovate the 23-acre project.

Windjammer is being renamed Hidden Crest Apartments and is scheduled to reopen by June 2005.

At the time of sale, the property was 20 percent occupied.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Black Friday Sale! Bundle our next two events or secure your 2021 All Access Pass.SEE THE DEALS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription