Berkadia Closes $17M Suburban Atlanta Sale
- Oct 26, 2020
Berkadia has facilitated the sale of Level at Tall Oaks, a 174-unit community in the Atlanta suburb of Conyers, Ga. Cannell Capital Partners sold the asset to Cohen-Esrey Real Estate Services for $17.2 million. The brokerage’s Senior Director Judy MacManus, Managing Directors Paul Vetter and Andrew Mays and Director Matthew White represented the seller.
Cannell acquired the garden-style community in 2017 for $12.4 million, according to Yardi Matrix. Completed in 1988, Level at Tall Oaks has one-, two- and three-bedroom units. Amenities include a recently refurbished office and leasing center, a tennis court, a swimming pool and laundry facilities.
Located at 348 Tall Oaks Drive SE, the property is near Interstate 64 and the suburb’s major retail and entertainment centers. Downtown Atlanta is 25 miles away, linked by a commuter bus route.
Earlier this year, the same Berkadia team closed the $25.6 million sale of a 180-unit property in Stockbridge, Ga., 20 miles southwest of Level at Tall Oaks. The Walden Group was the buyer.