Greystone Brown Brokers $27M West Atlanta Deal
- Aug 25, 2020
Greystone Brown Real Estate Advisors has arranged the $27 million sale of Overlook Ridge Apartments, a 230-unit community in Atlanta. Walter Miller, Barden Brown, Cory Caroline Sams and Jim Jarrell facilitated the deal. Greystone provided the buyer with a $21.6 million Freddie Mac conventional loan. Yardi Matrix data shows the seller purchased the Class A asset in 2018 for $13 million.
Located at 100 Peyton Place SW, Overlook Ridge comprises eight three-story buildings developed in 2004, with one- to three-bedroom floorplans averaging 1,090 square feet. Amenities include a clubhouse, a fitness center, a business center, a swimming pool and laundry facilities.
The 14-acre property is roughly 6 miles west of downtown in Atlanta’s Harland Terrace neighborhood. The community is on the southern edge of a Dollar Tree-anchored retail center, less than 1 mile from a MARTA station and within 2 miles of the intersection of interstates 20 and 285.
Last November, a Greystone Brown team including Miller and Brown closed the disposition of a 490-unit portfolio in the Atlanta suburb of Austell, Ga. The three multifamily properties changed hands for $36.5 million.