Franklin Street announces the sale of North Cliff Valley Apartments in Brookhaven, Georgia, for $3,300,000 representing approximately $1,000,000 per acre.
Jake Reid and Ricky Jones of Franklin Street represented the seller in in the transaction. The apartments were the second property in a two-property sale, which included the previous sale of Lenox Townhomes.
“The continued acquisition of apartments for redevelopment to lower-density townhomes is creating additional rental demand in the Brookhaven market and raising the values of the other existing apartments,” Reid said. “The large push by both millennials and baby boomers to live in close proximity to work, shopping, and dining is equally pushing rental rates and housing values.”
North Cliff Valley Apartments are located at 1350 N. Cliff Valley Way N.E. within close proximity to Cross Keys High School and I-85.
About Franklin Street:
Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, and Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.
– See more at: http://atlanta.citybizlist.com/article/286935/brookhaven-georgia-apartments-sell-for-33m-signaling-velocity-in-infill-locations#sthash.3OwcvBCZ.dpuf