Atlanta, GA (March 10, 2020) – Franklin Street brokered the sale of the Retreat at Ragan Park, a 144-unit rental property located in the city of Macon, GA. Franklin Street’s Atlanta multifamily team, which included Chad DeFoor, Jake Reid, Dan Phelan, Royce Baptist, Alex Croy and Roger Schoerner represented the seller, S&S Property Management, Inc. and the buyer, Tusk Equity Partners in the $7,344,000 transaction.
“S&S Property Management did an excellent job during their ownership period of building a quality rent roll and supervising a $1.7M renovation,” said Chad DeFoor, Senior Director, Franklin Street.
“The Retreat at Ragan represents a great opportunity for Tusk Equity Partners to purchase a well performing multifamily property at an attractive basis with value add potential through both interior updates and amenity improvements,” said Jake Reid, Senior Director, Franklin Street.
The Retreat at Ragan Park is located at 2800 Masseyville Rd in Macon, GA. Built in 1973, the property spans 33.58 acres and has on on-site event center.