Preferred Apartment Communities Buys Georgia Property

Cushman & Wakefield arranged the sale of the 250-unit asset in Kennesaw.
The Ellison. Image courtesy of Cushman and Wakefield.

Newport Development Partners has sold The Ellison, located at 1650 N. Roberts Road in Kennesaw, Ga., to REIT Preferred Apartment Communities.

The 250-unit property is located 30 miles northwest of downtown Atlanta and 5 miles from Marietta.

The Ellison comprises three four-story buildings across 8.1 acres, with floorplans ranging from one- to three-bedroom layouts. Units feature energy-efficient appliances, while property amenities include a fitness center, a resident lounge, a saltwater swimming pool, a clubhouse, bike storage, a pet spa and electric vehicle charging stations.

The community is situated near several restaurants, along with numerous shopping and retail options. The Ellison is just 2.6 miles from Kennesaw State University and less than 5 miles from interstates 75 and 575.

The Cushman & Wakefield team that arranged the deal on behalf of Newport Development Partners consisted of Robert Stickel, Alex Brown and Ashlyn Warren. This year, Cushman & Wakefield earned the No. 2 spot on Multi-Housing News’ 2021 Most Powerful Brokerage Firms ranking.