Berkadia Completes Nearly $33 Million Sale of Multifamily Property in Georgia

October 9, 2019

Berkadia Completes Nearly $33 Million Sale of Multifamily Property in Georgia

October 9, 2019
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ATLANTA – October 7, 2019 – Berkadia today announced the $32.94 million sale of The Park at Edinburgh, a garden-style multifamily property in in DeKalb, 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 the seller, Florida-based Blue Magma Residential. The buyer was San Francisco-based Fillmore Capital Partners, LLC, and the deal closed on September 6.

“This was the out of state buyer’s first acquisition in Metro Atlanta, and as such the sale of The Park at Edinburgh perfectly demonstrates capital flowing into the area from other markets in search of yield,” said Vetter. “The influx of new companies, numerous corporate expansions and the in-migration of thousands of individuals into the greater-Atlanta area has fueled economic growth across the board.”

The Park at Edinburgh, located at 421 Meadowood Drive in Lithonia, GA. The property features recently renovated two- and three-bedroom floor plans with wood-style flooring, large walk-in closets and dishwashers. The property’s location along Interstate 20 affords excellent connectivity to many of South DeKalb’s major employers, as well as in-town employment hubs. Community amenities include laundry facilities, a business center, a fitness center, on-site maintenance, a swimming pool, central air, two playgrounds, a clubhouse, an internet café and valet trash service.