ATLANTA — April 2, 2021 — Berkadia announced today the sale of East Ponce Village, formerly known as 13Ten, a 977-unit garden-style multifamily property in Tucker, Georgia. Senior Director Judy MacManus, Director Matt White and Senior Managing Directors Paul Vetter and Andrew Mays of Berkadia’s Atlanta office completed the $75 million sale on behalf of the buyer, Pennsylvania-based Adams Investor Group. The seller was Toronto-based Medallion Corporation, and the deal closed on February 26.
“East Ponce Village is one of the largest properties in Metro Atlanta and encompasses one of the largest tracts of land (100 acres) in the city of Tucker,” said MacManus. “New ownership plans a comprehensive capital and operational plan to bring the property to its full potential. It was a complicated transaction that included a loan assumption with a quick closing date.”
Located at 1310 Wood Bend Drive, East Ponce Village features one- and two-bedroom floor plans with walk-in closets and washer and dryer connections. Community amenities include a clubhouse, a business center, swimming pools, an outdoor area with grilling stations, a fitness center and racquetball and tennis courts. The property is conveniently located near U.S. Route 78, Eagle Rock Studios and employment hubs such as Stone Mountain Industrial Park and Amazon’s Robotic Distribution Facility.
Atlanta-Area Apartments Sell for $75Mln | Commercial Real Estate Direct