Trinity Real Estate Sells Atlanta-Area Community

The buyer paid $11 million for the 352-unit Class C asset, with Arbor Realty Trust providing $12.5 million in acquisition and development financing.
South Hampton Estates

Trinity Real Estate Partners has sold South Hampton Estates, a 352-unit Class C community near Atlanta, according to Yardi Matrix. Code Capital Partners purchased the asset for $11 million. The buyer took an 18-month acquisition and development loan of $12.5 million from Arbor Realty Trust.

Situated just outside The Perimeter, the community is located at 3100 Godby Road in College Park, Ga. Roughly 3 miles from the entrance to Hartsfield-Jackson Atlanta International Airport, the property is 13 miles from the metro’s urban core, accessible via Interstate 85. A wide variety of shops and restaurants are in the area, along the Old National Highway retail corridor.

South Hampton Estates was constructed in 1970, with a second phase opening in 1974. The property consists of one- and two-bedroom apartments and townhouses, with unit floorplans ranging from 700 and 1,218 square feet. Community amenities include a laundry facility, swimming pool, fitness center, basketball court and business center.

In January, Fogelman and Thackeray Partners joined forces to purchase a 334-unit community, about 20 miles northwest of Code Capital’s acquisition, for nearly $45 million.

Image courtesy of Yardi Matrix