NEW YORK, NY - Greystone Brown Real Estate Advisors announced it has closed the $44,240,000 sale of a multifamily property in Marietta, Georgia. Greystone Brown represented the seller, Olive Tree Holdings, in the deal. The Greystone Brown team leading the transaction included Taylor Brown, Cory Caroline Sams, Chandler Brown, Barden Brown, and Walter Miller.
Located in Cobb County, The Life at West Cobb Apartments is situated at 2665 Favor Road. The multifamily asset consists of 395 units and is a 90% Low Income Housing Tax Credit property in a highly desirable area of North Atlanta.
“We have built a wonderful partnership with Olive Tree Holdings, and are appreciative that they have placed their trust in us to work on more than ten dispositions,” said Taylor Brown, Director at Greystone Brown Real Estate Advisors. “This asset in particular faced some challenges during the pandemic, including a lower occupancy and disruption in collections, but it’s a quality property in a fantastic location, so it commanded a strong purchase price.”