Covenant Grabs Atlanta Multifamily Portfolio

By Timea Papp

The Mosaic at Sandy Springs

CBRE brokered the sale of The Falls at Sandy Springs and The Mosaic at Sandy Springs, two apartment communities in Atlanta’s Perimeter Center submarket. A joint venture partnership between The Family Office and Titan Real Estate Investment Group sold the multifamily portfolio to Covenant Capital Group.

The Falls at Sandy Springs, located at 5555 Roswell Road, encompasses 309 units and is 92 percent occupied. Community amenities include a business center, clubhouse, swimming pool, fitness center and a picnic area with a grill and playground. Apartments feature granite countertops, eat-in kitchens, washer and dryer connections, central air conditioning and heating, as well as dishwashers and Juliet balconies.

Located at 5675 Roswell Road NE, The Mosaic at Sandy Springs boasts 505 units and was 96 percent occupied at the time of the sale. The community offers renters a swimming pool, business center, tennis court, lounge, community grill and barbeque area, laundry facilities and volleyball court. Homes provide a wide amenity base including washer and dryer hookups, walk-in closets, ceiling fans, central air conditioning and expansive floor plans.

Strategic location

CBRE Vice Chairman Kevin Geiger worked on behalf of the seller in disposing the assets. Both properties are located within the Roswell Corridor, where $1 billion of commercial and residential projects are currently underway. One of the advantages of the Perimeter Center location is its accessibility to the Interstate 285/ Georgia State Route 400 intersection.

“With easy access to retail, transportation, high walkability, and a thriving employment area, The Falls and The Mosaic are excellent assets which we are glad to have represented,” said Geiger, in a prepared statement.

Image courtesy of CBRE