Tudor McLeod Asset Management has sold Wildcreek Apartments, a 242-unit community northeast of Atlanta, for $22.3 million. The buyer, Two Water Capital, funded the purchase with a $16.6 million Fannie Mae loan originated by Capital One, according to Yardi Matrix. The 12-year mortgage has a fixed, 4.9 percent interest rate.
The property last changed hands in June 2015, when Tudor McLeod acquired the community from Peak Capital Partners in a $15.3 million transaction.
A Greystone Brown Real Estate Advisors team led by Chandler Brown, Taylor Brown and Bo Brown acted on behalf of both parties in the sale.
Located at 100 Wild Circle in Clarkston, Ga., the community is a short distance from the intersection of The Perimeter and U.S. Highway 78, with downtown Atlanta 11 miles to the southwest. The property’s buildings are situated near a number of shops and restaurants, with public transportation links a short walk away.
The community contains a mix of one- and two-bedroom units, with floorplans ranging from 850 to 1,100 square feet. Amenities include a fitness center, a swimming pool, a playground and approximately 300 parking spaces.
Earlier in October, Brand Properties traded a $133 million multifamily portfolio to Blaze Partners, including a 299-unit community 15 miles northeast of Wildcreek.
Image courtesy of Yardi Matrix