Cushman & Wakefield’s Atlanta multifamily team has arranged the $29 million sale of Parkway Vista, a 224-unit apartment community located in DeKalb County, Georgia, representing a sale price of $129,464 per unit. Mike Kemether and Josh Goldfarb of Cushman & Wakefield represented the seller, Vista Realty Partners, in the transaction. RK Properties acquired the property.
“With replacement costs at more than $160,000 per unit and a high barrier to entry in DeKalb County, Parkway Vista presented an excellent opportunity to purchase a like-new asset in one of Atlanta’s fastest growing apartment markets, the Northeast Corridor,” Kemether said.
The property, built in 2003, sits on 12.5 acres at 100 Parkway Circle, 1.5 miles from the I-285/I-85 Interchange. Amenities include a renovated clubhouse, business center, fitness center, swimming pool, car care center and laundry facility.
For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.