Century Hills sold to TIC investors

Multifamily complex features upscale amenities

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Tenant-in-common investors on Friday purchased a 200-unit apartment complex in Augusta, Ga., for an undisclosed price. The property, Century Hills, is a class A community located on nearly 17 acres. Comprising approximately 221,000 square feet, the property includes eight residential buildings and a separate building that houses the community's leasing center and clubhouse. Average unit size is 1,105 square feet. Community amenities include a swimming pool with sun deck, fitness center, executive business center, gated access and lighted tennis courts. Built in 2000, the property was approximately 96 percent occupied at the time of sale, and features a parking ratio of 2.4 spaces per unit. Centennial Investment Properties was the seller....