The Dunwoody Club apartment community in Sandy Springs, Ga., has been purchased for a price of $48 million.
The Bascom Group LLC acquired the 532-unit asset from Place Properties at a price that represents $90,226 per unit.
Located at 7700 Colquitt Road, the property, which was built in 1982-83, sits on 53 acres and includes an outdoor swimming pool, indoor swimming pool, five lighted tennis courts, racquetball courts, fitness center, executive business center, car care center, laundry facilities and a leasing center.
The unit mix features 218 one-bedroom/one-bath apartments, 24 one-bedroom/one-and-a-half-bath apartments, 130 two-bedroom/two-bath apartments, 96 two-bedroom/two-and-a-half-bath apartments, 40 three-bedroom/two-bath apartments, and 24 three-bedroom/two-and-a-half-bath apartments. Unit sizes range from 900 to 1,725 square feet.
Bascom plans to complete a renovation of the property that will include improvements and upgrades to the leasing center, fitness center and public amenities. Interior improvements will include upgraded carpeting, flooring, counter re-surfacing, upgraded fixtures and new paint on unit turns.