Cushman & Wakefield Arranges $59M Sale
- Feb 08, 2017
Flowery Branch, Ga.—Cushman & Wakefield’s Atlanta team recently arranged the $58.8 million sale of TreePark, a 456-unit multifamily property in Flowery Branch, Ga. Toronto-based Venterra Realty acquired the community from Atlanta’s Watkins Real Estate Group.
Located at 130 TreePark Circle, northeast of Atlanta in the Hall County area, TreePark is a 38-acre property located near Lake Lanier and along the Interstate 985 corridor. Built in 2006, the community includes a clubhouse, swimming pool, lighted tennis courts, fitness center, park area with green space and spa.
“TreePark is an outstanding well-maintained, quintessential suburban asset offering a fantastic value-add opportunity in a rapidly expanding area. With no recent deliveries in Hall County, TreePark’s top-of-market position presented immediate organic rent growth,” said Brandon Whitesell, vice-chairman at Cushman & Wakefield’s Atlanta office.
At the time of the transaction, the property was 93 percent occupied.
Image courtesy of Venterra Living