ATLANTA – August 28, 2018 – Berkadia today announced the sale of Briarwood Park portfolio, a three-property portfolio in Atlanta. Senior Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matt White of the Atlanta office completed the combined $50 million sale on behalf of the seller, Atlanta-based Marquis Investments. The buyer was Wilkinson Corporation, based in Washington state. Senior Managing Director Richard Levine of the Atlanta office secured the $38 million in financing on behalf of the buyer through Fannie Mae. The deal closed on July 19.
“Both Wilkinson and Marquis have stayed very active in the Buford Highway corridor over the past six years,” said Vetter. “The Briarwood Park portfolio will count as the 28th, 29th and 30th transactions they have both been a part of, making this a win-win for both the buyer and the seller.”
Wilkinson Corporation purchased Northeast Plaza and Terraces at Brookhaven and will combine the two properties into one 344-unit property called The Commons at Briarwood. Located at 3506-3510 Buford Highway, The Commons at Briarwood features units with one-, two- and three-bedroom floor plans, and residents have access to a swimming pool, a playground and laundry facilities.
The third property, Epic Gardens, is located at 3460 Buford Highway and is comprised of 112 units with one-, two- and three-bedroom floor plans that include fully-equipped kitchens and private balconies or patios. Residents also have access to two swimming pools and laundry facilities.
The properties are conveniently located in the Buckhead/Brookhaven neighborhood of Atlanta, affording convenient access to restaurants and shopping nearby, including Lenox Square Mall.