ATLANTA — Multi Housing Advisors (MHA) has brokered the $20.2 million sale of Aslan on the River, a 324-unit apartment community in the Atlanta suburb of Jonesboro, Ga. Josh Goldfarb, co-founder and co-managing partner of MHA, represented the seller and was the only broker involved in the deal. Hamilton Point Investments, based in Old Lyme, Conn., purchased the community, which was built in 2001.
“As 2013 nears completion, investor interest in the metro Atlanta and southeastern U.S. apartment markets remains very strong,” Goldfarb said. “With interest rates in check, the economy improving and job growth picking up, household formations are increasing and that means this sector, which has performed so well over the past several years, will continue to thrive. We expect to see investment sales continue at a brisk pace for multifamily assets of all types.”
With the Aslan on the River transaction, MHA’s Atlanta office has completed $160 million in investment sales this year. MHA, which also has offices in Birmingham, Ala., and Charlotte, N.C., and completes transactions throughout the South, is aiming to close 100 transactions in 2013.
Earlier this fall in metro Atlanta, MHA brokered the $15.6 million sale of Concepts 21-Roswell, a 304-unit community in Roswell, Ga., and the $5.8 million, off-market sale of Wynscape, a 272-unit community in Chamblee, Ga.
AH Capital, a Los Angeles-based investor, bought Concepts 21-Roswell from Atlanta-based ECI Capital, while New York-based Varden Capital purchased Wynscape from Atlanta-based J.C. Gay. MHA represented the sellers in both transactions and was the only broker involved in the deals.
MHA recently expanded its Charlotte office and intends to open additional offices in the South. The firm has made a number of significant new hires over the past year as well, adding experienced brokers to expand its geographic reach and to take advantage of the increasing volume of multifamily investment sales.
About Multi Housing Advisors:
Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast. Since that time, MHA has created value for clients in virtually every sector of the multi-housing market. The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.
MHA enjoys a total sales transaction volume that has surpassed $2.4 billion, representing more than 76,000 units and more than 450 individual transactions. MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.
For more information, visit www.usmha.com.
For More Information, Contact:
Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)
[email protected]