Cushman & Wakefield has arranged the $78.3 million sale of a six-property, 1,522-unit portfolio comprised of apartment communities throughout the Southeast on behalf of Varden Capital Partners. Tyler Averitt, Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller in the transaction. Blue Rock Partners acquired the properties.

“Deals when both parties walk away happy are deals we strive for as a group, and this portfolio represents one of those situations,” Averitt said. “By repositioning these assets after a bulk purchase and proving out a value-add program, Varden Capital Partners was able to make healthy profits for their investors. By only renovating a small sample of units, they left a great value-add path ahead for Blue Rock, which is the exact opportunity they are seeking in the Southeast.”

The properties in the portfolio include:

  • The 184-unit Madison Square in Dothan, Alabama
  • The 324-unit Preserve at Bent Creek in Atlanta
  • The 384-unit Lakeview Trails in College Park, Georgia
  • The 210-unit Epic Brookside in College Park, Georgia
  • The 188-unit Orchard Cove in Covington, Georgia
  • The 232-unit Gardens of Canal Park in Robinsonville, Mississippi