ATLANTA – November 29, 2018 – Berkadia today announced the $31.3 million sale of West Eleven Apartments, a 224-unit multifamily property in Atlanta. Senior Managing Directors Paul Vetter and Andrew Mays, Managing Director Russ Hardy, Senior Director Judy MacManus and Director Matthew White of the Atlanta office completed the sale on behalf of the seller, Massachusetts-based Aspen Square Management. The deal closed on November 9.
“Our seller executed a full repositioning of the property, making it one of the most desirable in the submarket,” said Mays. “The high quality of the asset and extensive growth of the Fulton Industrial Corridor, fueled in part by UPS’s large expansion just west of the property, made this a very attractive acquisition opportunity.”
Built in 2006, West Eleven Apartments is comprised of one-, two- and three-bedroom floor plans that include dishwashers, stainless-steel appliances, pantries, microwaves, walk-in closets, washers and dryers and central air conditioning and heating. Residents have access to community amenities including a fitness center, a pool, a playground, a tennis court, a business center and a courtyard.
Located at 1104 Westchase Lane, West Eleven is conveniently accessible via the Camp Creek Parkway and is less than 15 miles from downtown Atlanta.