Atlanta – Transwestern Real Estate Services (TRS) announces its Southeast Investment Sales team has arranged the sale of Chelsea Gardens, a 472-unit multifamily property at 2135 Godby Road in Atlanta, Georgia. Transwestern Senior Managing Directors Mike McGaughy and Jon Kleinberg exclusively represented the owner, BPH Capital, in the $37.5 million transaction.
“Chelsea Gardens is well-located in the airport submarket where capital investments are accelerating,” said McGaughy. “BHP invested nearly $5 million to update exteriors and approximately half of the interiors, giving the buyer a prime opportunity to purchase a sizable value-add asset with a proven track record. The property’s value is poised to significantly increase upon completion of the capital improvements program when units begin achieving or exceeding market rents.”
Offering a mix of one-, two- and three-bedroom apartments and two-bedroom townhomes, Chelsea Gardens is a neighborhood apartment community benefitting from its South Atlanta address, direct access to Interstate 285, and proximity to numerous neighborhood amenities.
The property is surrounded by major employment hubs, including Hartsfield-Jackson Atlanta International Airport and Delta Air Lines, two of the state’s largest economic drivers. As these businesses resume hiring, Chelsea Gardens is well-positioned to attract tenants that want to live in dynamic areas close to their employers.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
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Jaime Luckey
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jaime@luckeycomms.com
twmediarelations@transwestern.com
