ATLANTA — January 8, 2021 — Berkadia announced today the sale of Legacy Apartment Homes, a 700-unit garden-style multifamily property in Atlanta, Georgia. Senior Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matt White of Berkadia’s Atlanta office completed the sale on behalf of Atlanta-based DRI Legacy, LLC. The deal closed on December 29, 2020.
“This property, at 700 units, is one of the largest assets located in Metro Atlanta,” said Vetter. “The seller purchased this asset during the financial crisis and executed on a tremendous value-add strategy. Over the last eight years they were able to turn the property into a fantastic asset where the tenants are proud to call it home. The buyer is excited to continue improving the asset by executing his own capital projects and taking it to the next level.”
Located at 5327 River Walk Place, Legacy Apartment Homes features one- and two-bedroom floorplans. Community amenities include a swimming pool, a fitness center, a playground and a tennis court. The property was renovated in 2015 and is conveniently located near the Hartsfield-Jackson International Airport and downtown Atlanta.