Cushman & Wakefield’s Atlanta multifamily team has arranged the $58.8 million sale of TreePark, a 456-unit apartment community located in Flowery Branch, Georgia. Brandon Whitesell, Chris Spain, and Alex Brown of Cushman & Wakefield represented the seller, Atlanta-based Watkins Real Estate Group in the transaction. Toronto-based Venterra Realty acquired the property.
“TreePark is an outstanding well-maintained, quintessential suburban asset offering a fantastic value-add opportunity in a rapidly expanding area,” said Whitesell. “With no recent deliveries in Hall County, TreePark’s top-of-market position presented immediate organic rent growth.”
The 38-acre property, built in 2006, is located northeast of Atlanta in the desirable south Hall County area, situated just east of Lake Lanier along the busy Interstate 985 corridor. Amenities include a resort-style decorator clubhouse, an expansive free-form swimming pool, lighted tennis courts, a scenic walking trail, a park area with green space, a hydro-spa, and boat and RV parking areas. The property was 93.4 percent occupied.
For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.