ATLANTA – August 26, 2020 – Berkadia announced today the sale of Retreat 138, a 180-unit garden-style multifamily property in Stockbridge, Georgia. Senior Managing Directors Paul Vetter and Andrew Mays, Managing Director Russ Hardy, Senior Director Judy MacManus and Director Matthew White of Berkadia’s Atlanta office completed the $25.6 million sale on behalf of the seller, Massachusetts-based Aspen Square Management. The buyer was New York-based The Walden Group, and the deal closed on August 7.
“This was a seamless transaction for both buyer and seller, especially taking into account the uncertainty when this was awarded,” said Mays.
Located at 3384 Mount Zion Road, Retreat 138 features one-, two-, three- and four-bedroom floor plans with large bedrooms, stainless-steel appliances, granite countertops and walk-in closets. Community amenities include a fitness center, a pool, a playground, a volleyball court, a business center and a clubhouse. The property affords convenient access to Interstates 675 and 75 and the shops and restaurants along Lake Spivey Parkway.