Atlanta-Area Property Changes Hands
Blue Magma Residential sold a 415-unit community in Lithonia, Ga. for nearly $33 million.
Fillmore Capital Partners has purchased The Park at Edinburgh, a 415-unit garden-style community in Lithonia, Ga. Blue Magma Residential traded the asset for $32.9 million. Berkadia arranged the transaction on behalf of the seller.
The Park at Edinburgh is located at 421 Meadowood Drive, alongside Interstate 20, roughly 16 miles from downtown Atlanta. The community is also situated adjacent to a cluster of restaurants and retail centers, such as The Center at Panola and Walmart Supercenter.
Constructed in 1970, the 32-building community occupies more than 31 acres and encompasses a mix of two- and three-bedroom units, averaging 1,249 square feet. The apartments feature washer and dryer hookups, fireplaces and above-standard ceiling height. Property characteristics include controlled access, a fitness center, clubhouse, tennis court, playground, swimming pool and laundry facilities.
Berkadia’s brokerage team included Senior Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matt White. Berkadia’s latest deals in Atlanta include the sale of a 140-unit property in Tucker, Ga.