Berkadia Facilitates Atlanta-Area Sale

The company brokered the sale of a 102-unit community which includes an array of state-of-the-art amenities. The property traded for $15.2 million.

Berkadia has completed the sale of DeLido Apartments, a 102-unit garden-style apartment community in Dunwoody. DENEB Holdings LLC paid DeLido Apartments LLC $15.2 million for the residential asset.

Value-add opportunity

Located at 4685 Chamblee Dunwoody Road, the property offers a mix of studios, two-, three- and four-bedroom floor plans ranging in size from 650 to 2,207 square feet. All units include air conditioning, heating, washer and dryer appliances, carpeted floors and fireplaces. Community amenities include a swimming pool with a sun deck and 150 parking stalls. According to Yardi Matrix, the residential asset was at 98 percent occupancy, as of May 2017. The property is located in the vicinity of The Perimeter, which provides convenient access to downtown Atlanta and the surrounding areas.

There is tremendous value-add opportunity with this property, which the seller had owned for over 40 years. The chance to upgrade the community itself, combined with the strength of the surrounding market, made this a solid investment for DENEB Holdings,” Vetter said in prepared remarks.

The company’s Senior Directors Andrew Mays, Paul Vetter and Director Matthew White of the Atlanta office worked on behalf of the buyer.

Images courtesy of Yardi Matrix