Greystone Brown Real Estate Advisors Closes $35 Million in Sales of Multifamily Properties in Austell, GA
PRESS RELEASE GlobeNewswire
NEW YORK, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Greystone Brown Real Estate Advisors announced it has closed the separate sale transactions of two multifamily properties with a total value of $35,125,000 in Austell, GA.
Greystone Brown advised the buyer, Castle Lanterra Properties, and brought the seller, Tudor McLeod Asset Management, to the $19,725,000 sale of 300 Riverside. The sale was handled by Chandler Brown, Taylor Brown, Barden Brown and Bo Brown, and a $16,200,000 loan for the transaction was also provided by Greystone.
The 300 Riverside transaction was financed with a 10-year Fannie Mae loan. The recently upgraded 300 Riverside property offers 220 well-appointed one-, two- and three-bedroom units with walk-in closets, sunrooms, fireplaces and balconies. Other amenities include a clubhouse, swimming pool, sports court, access gate and on-site laundry facilities.
For the $15,400,000 sale of Villas at Riverside, Greystone Brown advised the seller, Moneil Investment Group. The sale was handled by Barden Brown, Cory Caroline Sams and Bo Brown.
Located at 648 Whisper Trail, Villas at Riverside offers 266 garden-style luxury units with one-, two-, three- and four-bedroom floorplans averaging 1,023 square feet in size. Other amenities at the property include a clubhouse, swimming pool, laundry center, sport court, playground and access gate.
Both properties are located near shopping, excellent schools, places of worship and Six Flags, in highly desirable and rapidly growing Cobb County. Just 20 minutes from downtown Atlanta and on the Cobb County Transit Busline (CCT), the properties are close to Interstate 20 and are near major industrial and business parks.
“Both of these multifamily sales involved repeat clients on each side of the deal, which excites us the most because it speaks volumes about the premium they place on our services and expertise,” said Bo Brown, President, Greystone Brown Real Estate Advisors. “When clients recognize that our team will work tirelessly on their behalf for the best transaction and terms possible, they continue coming back to us for help enhancing their multifamily portfolios.”
About Greystone Brown Real Estate Advisors
Greystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily and retail properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region. Greystone Brown real estate professionals are committed to understanding the objectives of maximizing yields and profits while being able to meet critical time frames. For more information, visit www.brownra.com.
Greystone is a real estate lending, investment, and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greyco.com.