ATLANTA — May 3, 2021 — Berkadia announced today the $20.6 million sale of Sterling Riverside Townhomes, a 232-unit apartment property in Austell, Georgia. Senior Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matt White of Berkadia Atlanta completed the sale on behalf of the seller, New York-based Park Drive Equities. The buyer was Georgia-based Zevulon Capital Inc., and the deal closed on March 22.
“This transaction highlights the incredible transformation Six Flags Drive has had over the last 24 to 36 months,” said Vetter. “Both the buyer and the seller were extremely happy with how this deal transpired and how it got to the finish line.”
Located at 7440 Riverside Parkway SW, Sterling Riverside Townhomes features two- and three-bedroom floor plans with washer and dryer connections and air conditioning units. Community amenities include basketball courts, a playground and a swimming pool. The property is conveniently located near Tom Murphy Freeway, Six Flags Over Georgia and Georgia State Route 70.