ATLANTA and DENVER – March 25, 2022 – Berkadia announced today the sale of and financing secured for the JAMCO 12-Property Portfolio, a multifamily portfolio consisting of 2,459 total apartment units in Georgia. Senior Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matt White of Berkadia Atlanta completed the $375 million sale on behalf of the seller, Georgia-based JAMCO Properties. The deal closed on March 15.

“This is a generational asset with the average time period owned for the portfolio being just over 14 years. These types of portfolios rarely exist in Atlanta,” said Vetter. “The Seller felt that it was time to exit the market. Multifamily has been his life for so long, and he was such an incredible owner and steward of his properties. The Buyer is getting a portfolio with large units, and they are excited to execute their value-add strategy on units that have been virtually untouched. This was one of the true, win-win transactions for both Buyer and Seller.”

Berkadia’s Denver and Atlanta offices worked together closely throughout the process to arrange long-term portfolio financing with Freddie Mac on behalf of the buyer.

“We were able to secure a creative non-recourse portfolio financing solution with a mix of fixed and floating-rate loans for 10 years,” said Managing Director Matt Schildwachter. “This mix allows the buyer to lock in a combo of fixed-rate debt in a rising rate environment while also providing some portfolio flexibility with minimal prepays on floating-rate loans on select properties with more expected upside.”

The properties in this portfolio include:

1. Aspen Pointe is located at 1300 Gran Crique Parkway in Roswell, Georgia. The 300-unit property features one-, two- and three-bedroom floor plans with private balconies or patios. Community amenities include a swimming pool, a fitness center, a business center, a clubhouse and laundry facilities. The property affords residents convenient access to Big Creek Park and the shops and restaurants near Route 400.
2. Emerald Pointe is located at 501 Roberts Drive in Riverdale, Georgia. The 196-unit property features one-, two- and three-bedroom floor plans with private balconies or patios. Community amenities include a swimming pool and a playground. The property affords residents convenient access to Southern Regional Medical Center and the shops and restaurants near Route 85.
3. Lakeside Townhomes is located at 5577 Riverdale Road in College Park, Georgia. The 177-unit property features one- and two-bedroom floor plans with private balconies or patios. Community amenities include a swimming pool, a clubhouse and a playground. The property affords residents convenient access to the shops and restaurants near Riverdale Road.
4. Linden Ridge is located at 5400 Memorial Drive in Stone Mountain, Georgia. The 210-unit property features two- and three-bedroom floor plans with walk-in closets. Community amenities include a swimming pool, a fitness center and a playground. The property affords residents convenient access to James R. Hallford Stadium and the shops and restaurants near Route 10.
5. Maplewood Pointe is located at 221 Upper Riverdale Road in Jonesboro, Georgia. The 218-unit property features two- and three-bedroom floor plans with walk-in closets and private balconies or patios. Community amenities include a swimming pool, a fitness center, a business center, a barbeque picnic area and a playground. The property affords residents convenient access to Southern Regional Medical Center and the shops and restaurants along Upper Riverdale Road.
6. Morrowood Townhouses is located at 5915 Trammell Road in Morrow, Georgia. The 264-unit property features one-, two- and three-bedroom floor plans with walk-in closets and private balconies or patios. Community amenities include a swimming pool, a playground and laundry facilities. The property affords residents convenient access to Clayton State University.
7. Oak Run is located at 7878 N Main St. in Jonesboro, Georgia. The 144-unit property features two-bedroom floor plans with walk-in closets and in-unit washers and dryers. Community amenities include a swimming pool and a playground. The property affords residents convenient access to Tara Stadium and the shops and restaurants near Route 41.
8. Stonetree is located at 2414 Stone Road in East Point, Georgia. The 232-unit property features one-, two- and three-bedroom floor plans with private balconies or patios. Community amenities include a swimming pool, a fitness center and a playground. The property affords residents convenient access to College Park Golf Course and the shops and restaurants near Washington Road.
9. Stratford Arms is located at 417 Valley Hill Road SW in Riverdale, Georgia. The 100-unit property features one- and two-bedroom floor plan with private patios. Community amenities include a swimming pool and a playground. The property affords residents convenient access to Southside Medical Center and the shops and restaurants along Route 85.
10. The Village at Wesley Chapel is located at 5915 Trammell Road in Decatur, Georgia. The 218-unit property features one-, two- and three-bedroom floor plans with walk-in closets and private balconies or patios. Community amenities include a swimming pool, a fitness center, a business center, a clubhouse and a playground. The property affords residents convenient access to Kaiser Permanente Panola Medical Center and the shops and restaurants near Interstate 20.
11. Willow Lake is located at 5100 West Mountain St. in Stone Mountain, Georgia. The 280-unit property features one-, two- and three-bedroom floor plans with walk-in closets and private balconies or patios. Community amenities include a swimming pool, a fitness center, a business center, a clubhouse and a playground. The property affords residents convenient access to Stone Mountain Park, Stone Mountain Golf Club and the shops and restaurants near Route 10.
12. The Woods at Southlake is located at 850 Mt. Zion Road in Jonesboro, Georgia. The 120-unit property features two- and three-bedroom floor plans with private balconies or patios. Community amenities include a swimming pool, a playground and laundry facilities. The property affords residents convenient access to Southern Regional Medical Center and the shops and restaurants along Mt. Zion Road.