Capstone Closes $18.4 Million Sale of 112-Unit Apartment Asset in Augusta MSA

GROVETOWN, GA—Capstone Apartment Partners has closed the $18.4 million sale of Highland Hills Apartments in the Grovetown submarket of Augusta, GA.

Capstone’s Adam Klenk, Sean Henry, Tyler Hogan, and Robert Yates led the sale of Highland Hills on behalf of New York-based Valor Residential. The buyer is Virginia-based Cohen Investment Group.

“Capstone is very pleased to represent Valor Residential in the sale of Highland Hills. Valor has a longstanding relationship with Capstone and we are fortunate to have helped them close multiple transactions,” said Klenk.

“We are thrilled to have closed another transaction in the Augusta market to kick off 2022. Highland Hills presents a phenomenal opportunity for Cohen Investment Group and their investors to capitalize on the heightened rent growth that the Augusta market is currently experiencing,” said Henry.

Newly built in 2019, Highland Hills is comprised of 112 units with wood-style flooring, granite countertops, stainless-steel appliances, walk-in closets, private patios, and washer/dryer connections. Community amenities include a pool with sundeck, fitness center, and clubhouse. Highland Hills was approximately 98% occupied at the time of closing.

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