NEW YORK, NY - Greystone Brown Real Estate Advisors announced it has closed on the sale of South Hampton Apartments, a 344-unit apartment community, for $6,900,000. Located in College Park, GA, the asset was sold by JPS Asset Management, to Trinity Real Estate Partners LLC on March 9. Taylor Brown of Greystone Brown Real Estate Advisors led the sale.
South Hampton Apartments is a 1970s-construction apartment community consisting of 1- and 2-bedroom units. The property comprises 24 acres and is located adjacent to the Hartsfield-Jackson Atlanta International airport south of Atlanta along Interstate 85. Amenities include a swimming pool, fitness center and recreation courts, and many units feature private balconies or patios.
"The asset is ideally situated near Atlanta’s airport gateway and the Perimeter, and we were able to market the property by highlighting its location and cosmetic potential,” said Bo Brown, President of Greystone Brown Real Estate Advisors. “With $2 million in rehabilitation planned, South Hampton Apartments will prove to be a performing asset for many years to come.”
About Greystone Brown Advisors: In 2016, Greystone, a real estate lending, investment and advisory company, and Brown Realty Advisors created a joint venture combining Greystone’s comprehensive financial platform and Brown Realty’s sales expertise in multifamily and retail properties throughout the Southeast. In 2015, Brown Realty was #1 for sales of multifamily assets larger than 85 units built previous to 1995. Established in 1975, Brown Realty is one of the largest and oldest privately-held apartment brokerage firms in the South having closed more than $5 billion in acquisitions and dispositions.