Berkadia Completes $176 Million Sale of Multifamily Portfolio in the Southeast
ATLANTA and CHARLESTON, S.C. – January 27, 2022 – Berkadia today announced the sale of Strategic Portfolio, a seven-property multifamily housing portfolio in the Southeast. Senior Managing Directors Andrew Mays and Paul Vetter, Senior Director Judy MacManus and Director Matt White of Berkadia Atlanta, along with Managing Director Mark Boyce and Director Blake Coffey of Berkadia Charleston, together completed the $176 million sale on behalf of the seller, California-based Strategic Holdings. The buyer was Texas-based Comunidad Realty Partners, and the deal closed on December 28, 2021.
“Comunidad capitalized on a great opportunity to achieve scale in Atlanta by moving expeditiously to achieve Strategic’s requirement for a year-end close,” said Mays.
The seven properties in the portfolio include:
Collins Park Villas is a 104-unit multifamily property located at 4211 Britain Court in North Charleston, South Carolina. The property features two- and three-bedroom floor plans with air conditioning and walk-in closets. Community amenities include a swimming pool and a picnic area with grilling stations. The property affords residents convenient access to Charleston International Airport, Interstate 526, Tanger Outlets Charleston and the shops and restaurants along Rivers Avenue.
Sierra Hills is a 161-unit multifamily property located at 3207 Henderson Mill Road in Atlanta, Georgia. The property features two- and three-bedroom floor plans with air conditioning and walk-in closets. Community amenities include a swimming pool, a fitness center, a clubhouse and a playground. The property affords residents convenient access to Kaiser Permanente Crescent Medical Center, Henderson Park, Northlake Mall and Interstate 285.
Sierra Terrace is a 135-unit multifamily property located at 3547 Buford Highway NE in Atlanta, Georgia. The property features two- and three-bedroom floor plans with private patios or balconies. Community amenities include a courtyard and a picnic area with grilling stations. The property affords residents convenient access to DeKalb-Peachtree Airport, Interstate 85 and the shops and restaurants along Route 13.
Sierra Village is a 154-unit multifamily property located at 2615 Oak Shadow Lane NE in Atlanta, Georgia. The property features one- and two-bedroom floor plans. Community amenities include a playground and a courtyard. The property affords residents convenient access to DeKalb-Peachtree Airport, Interstate 85 and the shops and restaurants along Route 13.
Sierra Gardens is a 132-unit multifamily property located at 3649 Buford Highway NE in Atlanta, Georgia. The property features one-, two- and three-bedroom floor plans. The property affords residents convenient access to DeKalb-Peachtree Airport, Interstate 85 and the shops and restaurants along Route 13.
Sierra Station is a 62-unit multifamily property located at 3632 Buford Highway NE in Atlanta, Georgia. The property features two-bedroom floor plans with air conditioning and private balconies or patios. Community amenities include a swimming pool and laundry facilities. The property affords residents convenient access to DeKalb-Peachtree Airport, Interstate 85 and the shops and restaurants along Route 13.
Belmont Crossing is a 192-unit multifamily property located at 1940 Atlanta Road SE in Smyrna, Georgia. The property features one- and two-bedroom floor plans with air conditioning and private balconies or patios. Community amenities include a swimming pool, a playground and laundry facilities. The property affords residents convenient access to Interstate 75, Cumberland Mall, the shops and restaurants along S Cobb Drive and Route 41.