Capstone Closes $40.8 Million Sale of 240-Unit Apartment Asset in Atlanta MSA

ATLANTA, GA—Capstone Apartment Partners has closed the $40.8 million sale of Walden Landing: a 240-unit garden-style apartment community in the town of Hampton, Georgia—just south of Atlanta.

Capstone’s Austin Green, Alex McDermott, and Tyler Hogan facilitated the transaction between the seller, Gastonia, NC-based Southwood Realty, and the buyer, Indianapolis-Based Pedcor.

“The I-75 South corridor just outside Atlanta extending through Henry County continues to experience tremendous population growth as families continue to migrate south to take advantage of the strong job market. That, accompanied by the strong demand for well-located workforce housing in the Atlanta MSA, makes this asset poised to achieve long-term success in the market,” said Tyler Hogan, Investment Sales Advisor in Capstone’s Atlanta brokerage office.

Pedcor Companies purchased Walden Landing for $40.8 million from Southwood Realty. The asset was built in 2000 and features 240 one-, two-, and three-bedroom spacious apartment homes. The gated community’s amenity package includes a swimming pool, clubhouse, business center, fitness center, and playground. Each apartment home features a fully equipped kitchen, ceiling fans, walk-in closets, crown molding or vaulted ceilings, washer/dryer connections, and a patio, balcony, or sunroom. Walden Landing was 97% occupied at the time of closing.

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