Cushman & Wakefield has arranged the sale of two apartment communities in Georgia totaling $36.5 million. Nathan Swenson of Cushman & Wakefield represented the sellers, ALA Sugar Hill LLC and AMF Fountains of Kelly Mill LLC, in the transaction. Audubon Communities acquired the properties.
The 46-unit Fountains at Kelly Mill, located in Cumming, Georgia, sold for $10.7 million. Built in 2017, the property offers pristine open-concept townhomes with modern features and 1,620-square-foot floor plans. Sugar Hill Overlook, located in Sugar Hill, sold for $25.8 million. Completed in 2018, Sugar Hill Overlook offers 131 attractive, modern townhomes with private garages and an average unit size of approximately 1,500 square feet.
“Fountains at Kelly Mill and Sugar Hill Overlook are communities that stand apart in the rental landscape,” Swenson said. “A combination of high-end finishes and townhome design offer residents a more ‘homey’ feel while giving the buyer a product that is more desirable than an average community. The affluent neighborhoods of Cumming and Sugar Hill make the investment that much more attractive.”