Atlanta-Area Community Commands $31M

With the assistance of Cushman & Wakefield, Wilkinson Group sold the 220-unit community in Villa Rica for almost double the price when it traded in 2014.
Hickory Falls
Hickory Falls. Image courtesy of Cushman & Wakefield

Wilkinson Group has sold Hickory Falls, a 220-unit community in Villa Rica, Ga. InterCapital Group acquired the property for $31.2 million. According to Carroll County records, the asset last traded in 2014 for $16.2 million. Cushman & Wakefield represented Wilkinson Group in the  transaction.

Hickory Falls is located at 801 NE Hickory Level Road, 2.4 miles southwest of downtown Villa Rica. The property is just south of Interstate 20, near Home Depot and across the road from Villa Rica Commons. Other numerous shopping and dining options are available along State Road 101 and U.S. Route 78.

The community consists of two- and three-story buildings completed in 2003 and spread across 24 acres. The unit mix features one- to three-bedroom floorplans ranging from 975 to 1,350 square feet. Amenities include a cyber café, swimming pool, fitness center, two tennis courts and a dog park.

Cushman & Wakefield Managing Director Nathan Swenson and Director Travis Presnell assisted the seller in the disposition. In July, the brokerage team also represented the seller in the $19 million transaction of a 156-unit community in Austell, Ga.