Fogelman Acquires GA Community for $34M
The company worked with CBRE in the sale of The Hamptons at East Cobb, a 196-unit community situated 17 miles from downtown Atlanta.
The Hamptons at East Cobb. Image courtesy of CBRE
Fogelman Properties has sold the 196-unit The Hamptons at East Cobb in Marietta, Ga., to Cohen-Esrey for $33.6 million. The asset last traded in 2015 for $21.5 million, according to Yardi Matrix data.
Located at 1523 Roswell Road, the community is adjacent to Marietta Antique Mall and several other retail and dining establishments, while downtown Atlanta is 17 miles away. The property comprises one-, two- and three-bedroom apartments with floorplans ranging from 643 to 1,247 square feet. The six three-story buildings were completed in 1997 on a 16.8-acre site and include common-area amenities such as a tennis court, dog park, fitness center and car care center. As of April, the asset was 94.4 percent occupied, per Yardi Matrix data.
Fogelman Properties worked with CBRE’s Vice Chairmen Kevin Geiger, Malcomb McComb and Paul Berry, Executive Vice President Shea Campbell and Senior Vice President Ashish Cholia. Recently, the seller partnered with DRA Advisors to acquire Artesian at Westheimer, a 660-unit luxury property in Houston.
