Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged the sale of Waterford Point, a 344-unit apartment community located in Lithia Springs, Georgia, in metro Atlanta. Nathan Swenson of Cushman & Wakefield represented the seller, PointOne Holdingsin a joint venture with Biscayne Atlantic, in the transaction. Elite Street Capital acquired the property.
“Waterford Point was the perfect intersection of asset and location,” Swenson said. “A high-growth economic market with substantial rent growth combined with Douglas County’s effective ban on multifamily housing development will provide very attractive returns to the new owner.”
Built in 1989, Waterford Point is located in the rapidly growing west metro Atlanta suburb of Lithia Springs, which is home to the Southeastern headquarters of the American Red Cross and major recent investments by Google and Keurig. The asset is situated just north of Interstate 20 and adjacent to the prolific Thornton Road and Fulton Industrial Boulevard industrial and warehouse districts.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions reported to CoStar. The group has closed $2.7 billion in sales volume in 2017, totaling over 175 deals and more than 35,000 units.On average, the team has experienced 63 percent sales growth within the last five years. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.