Metro Atlanta Asset Changes Ownership
The Walden Group paid more than $12 million for the 140-unit multifamily property located in Tucker, Ga.
Bradford Park
Atlanta-based Lin Family Investments has sold Bradford Park Apartments, a Class B, 140-unit multifamily property in Tucker, Ga. The Walden Group acquired the asset for $12.6 million. Berkadia negotiated the deal on behalf of the seller. According to Yardi Matrix data, the property last traded in 2003, when Lin purchased it for $5.2 million.
Located at 1839 Fellowship Road, Bradford Park sits between Stone Mountain Freeway and State Route 29, roughly 15 miles northeast of downtown Atlanta. The property is close to Kaiser Permanente Crescent Medical Center, Quest Diagnostics – Regional Headquarters, AMEC Foster Wheeler Power & Process and Northlake Mall.
Bradford Park consists of 17 two-story buildings constructed in 1967 on 12.5 acres, per Yardi Matrix data. The unit mix features two- and three-bedroom floorplans averaging 1,014 square feet. Communal amenities include a basketball court, picnic area and laundry facilities, as well as 200 parking spaces. The property was 100 percent occupied at the time of sale.
Berkadia Senior Managing Directors Paul Vetter and Andrew Mays, together with Senior Director Judy MacManus and Director Matthew White represented the seller in the deal. Vetter, Mays and White were also instrumental in the recent $23.2 million sale of an Atlanta community.
