Mid-America Apartment Communities acquired the Prescott apartment community located in the Atlanta Metro sub-market of South Gwinnett County, Ga.
The value of the transaction was $28.5 million.
The 384-unit property was built in 2001 and consists of one-, two-, and three-bedroom, upscale apartment homes with 9-foot ceilings, crown molding, and available wood burning fireplaces. The community features a private lake with cascading fountains, resort pool, a health and fitness center, and attached garages.
The seller’s identity was not disclosed.
MAA is a self-administered, self-managed apartment-only real estate investment trust.
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