ATLANTA — December 3, 2021 — Berkadia announced today the $108.5 million in combined sales of Legacy at Riverdale and The Quarry, two garden-style multifamily properties in Georgia. Director Matt White, Senior Managing Directors Paul Vetter and Andrew Mays and Senior Director Judy MacManus of Berkadia Atlanta completed the sale of Legacy at Riverdale on behalf of the West Coast-based seller. The buyer was based in the Midwest, and the deal closed on October 27.
The same Berkadia team also completed the sale of The Quarry on behalf of the Midwest-based seller. The buyer was based on the West Coast, and the deal closed on November 18.
“The closing of The Quarry and Legacy at Riverdale culminated in a true win-win scenario for each group,” said White. “With both deals contingent upon the other to close, these two transactions provided an incredibly unique deal structure that allowed for both owners to essentially swap properties. Each seller was able to capitalize on the success of their individual business plans while immediately recycling capital and maintaining scale within the Atlanta market.”
Legacy at Riverdale is located at 6603 Church St. in Riverdale, Georgia. The property features studio, one-, two- and three-bedroom floor plans. The property affords residents convenient access to Southern Regional Medical Center, downtown Atlanta and the shops and restaurants along Route 85.
The Quarry is located at 421 Meadowood Drive in Lithonia, Georgia. The property features two- and three-bedroom floor plans that average nearly 1,250 square feet in size. Community amenities include a swimming pool, a fitness center, a business center, a clubhouse, laundry facilities and a playground. The property affords residents convenient access to Emory Hillandale Hospital and nearby retailers such as The Home Depot and Publix.