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Franklin Street Brokers $17.3M Sale of Chase Village Apartments

Chase Village
Published: Apr 14, 2020

Franklin Street Brokers $17.3M Sale of Chase Village Apartments
in Jonesboro, GA

Chase Village Apartments sold for $102,976 per unit

Atlanta, GA (April 14, 2020) - Franklin Street has brokered the sale of Chase Village Apartments, a 168-unit apartment community located in the city of Jonesboro, Georgia.

Franklin Street’s Atlanta multifamily investment sales team, Chad DeFoor, Jake Reid, Dan Phelan, Royce Baptist, Alex Croy and Roger Schoerner, represented the seller, Peak Capital Partners, and the buyer, Oak Residential Partners in the $17,300,000 transaction.  The buyer paid $102,976 per unit.

“Chase Village represents a true value-add work force housing opportunity with just over 94% of the complex containing classic units,” said Chad Defoor, Senior Director, Franklin Street. “The new owner plans on renovating the units to the level of the neighboring property, which they also own.”

Chase Village Apartments is located at 100 Chase Village Drive, Jonesboro, GA.  Built in 1986, Chase Village Apartments spreads out over 24.93 acres. Chase Village Apartments has a mix of spacious two- and three-bedroom floor plans. The property is also zoned for an additional 8-unit building. 

Credit: Franklin Street
Source: Franklin Street