Suburban Atlanta Community Trades for $64M
- May 28, 2020
Centennial Holding Co. has acquired Century New Holland, a 348-unit Class A community in the far northeastern Atlanta suburb of Gainesville, Ga., for $64 million, according to Hall County records. Watkins Real Estate Group sold the asset, while Walker & Dunlop provided the buyer with a $44.3 million acquisition loan through Freddie Mac. The 10-year note bears a fixed rate and a five-year interest-only period.
Following the deal, Centennial rebranded the 2017-built luxury property, which was previously known as The Trees of Gainesville. The community’s one-, two- and three-bedroom floorplans range from 700 to 1,316 square feet. Amenities include a clubhouse, a swimming pool, a dog park, an athletic club and electric car-charging stations.
The asset located at 100 Foothills Parkway is a stone’s throw from the Northeast Georgia Medical Center and Brenau University, 55 miles northeast of downtown Atlanta. The property is also 1 mile west of a Kroger-anchored retail center alongside Interstate 985.
Walker & Dunlop’s Brian Moulder, Chris Goldsmith and Sean Williams represented the seller in the deal and Taylor Williams secured the acquisition financing. This transaction is the third involving both Walker & Dunlop and Centennial in the past 12 months.
In addition to its investment activity, Centennial has closed several dispositions in the last year. In August, the firm sold the 304-unit Century ChampionsGate near Orlando, Fla., for $59 million.