Atlanta Apartment Community Sells for $150,849 Per Unit

Cushman & Wakefield has arranged the $15.99 million sale of Sterling Vinings, a 106-unit apartment community located in Smyrna, Georgia. Nathan Swenson and Mike Kemether of Cushman & Wakefield represented the seller, Grubb Properties, in the transaction.

“Sterling Vinings’ boutique size and incredible location offered the buyer an opportunity to implement a strategic value-add program while offering long-term appreciation due to solid rental fundamentals,” Swenson said. “The economic buoyancy of northwest Atlanta and Smyrna specifically, combined with the reposition opportunity of the asset, generated a lot of investor attention for the owner.”

Built in 1985, Sterling Vinings’ location provides residents with direct access to major employment hubs throughout metro Atlanta via Interstate 285 and South Cobb Drive. Sterling Vinings is proximate to many new, transformational mixed-use developments in Cobb County, such as The Battery Atlanta. Amenities include a dog park/play area, fitness center, swimming pool, walking/jogging trail and grilling/picnic areas.

Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2018 based on closed transactions, totaling over $5 billion in sales volume. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.