A joint venture between Titan Real Estate and Investcorp International has sold Chatsworth, a 410-unit community in Atlanta, to ECI Group. CBRE represented the seller in the transaction. The property last changed hands in May 2015, when Ares Management shed the asset for $38 million, according to Yardi Matrix.
Located at 4700 N. Hill Parkway in Atlanta’s West Chamblee submarket, the garden-style community’s 17 buildings are positioned just west of the intersection of Interstate 285 and Peachtree Boulevard. The city’s downtown, 15 miles southwest, is accessible via a city bus route which runs adjacent to the property. The community offers a mix of one-, two- and three-bedroom units ranging from 950 to 1,435 square feet. Amenities include two swimming pools, a tennis court, fitness center, laundry facilities and a business center.
“The property’s strategic location provides Atlanta’s best overall access to the major employment centers of Buckhead, Midtown, Downtown and Cumberland/Galleria,” said Vice Chairman Kevin Geiger of CBRE, who represented the seller in the deal, in a prepared statement. “Chatsworth is surrounded by superior demographics and a deep, talented resident pool in one of Metro Atlanta’s most affluent areas, where home ownership comes at a higher cost than renting.”
Last year, Geiger brokered the sale of another of Titan’s multifamily asset in Atlanta.
Image courtesy of Yardi Matrix