ATLANTA – November 16, 2021 – Berkadia announced today the combined sale of Bristol Creek and The Reserve, two garden-style multifamily properties located in Georgia. Senior Director Judy MacManus, Senior Managing Directors Andrew Mays and Paul Vetter and Director Matt White of Berkadia Atlanta completed the transaction on behalf of the seller, California-based Praxis Capital. The deal closed on October 29.
“Bristol Creek and The Reserve were well occupied, stable assets,” said MacManus. “The seller had proven out a value-add program having updated approximately 52 percent of the units. The buyer plans to continue the success by completing the renovation plan.”
Bristol Creek is located at 10 Friendly Hills Drive in Decatur, Georgia. The 168-unit garden-style multifamily property features one-, two- and three-bedroom floor plans with private patios or balconies. Community amenities include pet stations, a playground, a swimming pool and a basketball court.
The Reserve is a 252-unit garden-style multifamily property located at 5650 Hillandale Drive in Lithonia, Georgia. The property features one-, two- and three-bedroom floor plans with private patios or balconies. Community amenities include pet stations, a playground, a fitness center, grilling stations, a swimming pool and a clubhouse.
Both properties afford residents convenient access to Interstates 285 and 20, downtown Atlanta and the shops and restaurants along Wesley Chapel Road and Panola Road.