Capstone Closes $26.3 Million Sale of 320-Unit Apartment Portfolio in Macon, GA

MACON, GA—Capstone Apartment Partners has closed the $26.3 million sale of a 320-unit apartment portfolio in Macon, Georgia. The portfolio comprises three properties: Dwell on Riverside, Whispering Woods, and Ashley Woods. All three apartment assets are located off the Arkwright Rd exit of Interstate-75, offering proximity to North Park Shopping Center and other surrounding retail.

The Capstone transaction team was led by Tyler Hogan, Sean Henry, and Robert Yates, who sold the property on behalf of Walter Berhmann. The buyer is Daniel Simichi of M1 Properties LP. This transaction is one of several that Capstone facilitated with M1 Properties in 2021.

Dwell on Riverside (1974; 116 units), Whispering Woods (1984; 108 units), and Ashley Woods (1984; 96 units) had a combined occupancy of 74.7% at the time of closing.

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