Mesa Capital Partners has purchased a 490-unit apartment portfolio in suburban Atlanta.
Mesa bought Carrington Ridge and The Retreat at Eagles Landing, which are multifamily properties at 900 Rock Quarry Road in Stockbridge, Ga.
TIC Properties Management was the seller. A sales price was not released.
CBRE Inc.’s Shea Campbell, Kevin Geiger and Ashish Cholia represented TIC Properties.
Mesa Capital is acquiring the portfolio in what it believes is a supply-constrained suburban market in metro Atlanta. A lack of new apartment deliveries, along with job growth from employers such as Piedmont Henry Hospital, has sustained rental demand, CBRE’s Campbell said.