ATLANTA – July 6, 2017 – Berkadia today announced the recent sale of DeLido Apartments, a garden-style multifamily property located in Dunwoody, Georgia. Senior Directors Andrew Mays, Paul Vetter and Director Matthew White of the Atlanta office represented the buyer, DENEB Holdings LLC and seller, DeLido Apartments, LLC, in the $15.2 million sale.
“There is tremendous value-add opportunity with this property, which the seller had owned for over 40 years,” Vetter said. “The chance to upgrade the community itself, combined with the strength of the surrounding market, made this a solid investment for DENEB Holdings.”
By the end of the first quarter, asking rent in the greater Atlanta market had grown 4.1 percent annually, while employment had expanded 3.8 percent year-over-year.
Built in 1968, DeLido Apartments features 102 two-, three- and four-bedroom units, which include air conditioning, heating, washer and dryer connections, carpeted floors and fireplaces. Residents can enjoy community amenities including a swimming pool and a sun deck. The property’s 4685 Chamblee Dunwoody Road location positions it just beyond The Perimeter, which provides convenient access to downtown Atlanta and the surrounding area.