ATLANTA — May 28, 2021 — Berkadia announced today the sales of Commons at Briarwood Park and Magnolia Gardens, two garden-style multifamily properties 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 $67.79 million in combined sales on behalf of the seller, Washington-based Wilkinson Corporation, and the buyer, New York-based Saratoga Capital Partners. The deal closed on April 15.
“The seller successfully executed their business plan, and the buyer was able to assemble 50+ acres of income producing property given the proximity of their existing assets, creating a true win-win,” said Mays.
Commons at Briarwood Park is a 344-unit property located at 3510 Buford Highway NE. Commons at Briarwood Park features one-, two- and three-bedroom floor plans with fully-equipped kitchens, a walk-in closet and air conditioning. Community amenities include a clubhouse, two swimming pools, a laundry facility and a playground.
Magnolia Gardens is located at 3460 Buford Highway NE. The 112-unit property features one-, two- and three-bedroom floor plans with ceiling fans and a private balcony or patio. Community amenities include two swimming pools and a laundry facility.
Both properties are conveniently located near Emory University, Oglethorpe University and employment hubs such as Northside Hospital Atlanta and Children’s Healthcare of Atlanta.