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Atlanta & Southeast  + Atlanta Metro  + Apartments  |  February 11, 2021
David Cohen
By: David Cohen

Matthews Real Estate Arranges $6M Sale of Roswell Apartment Property

Commercial real estate firm Matthews Real Estate Investment Services has arranged the $6.1 million sale of Magnolia Hall Apartments, a 48-unit apartment community in Roswell built in 1964. Located at 756 Mimosa Blvd., the property is nearby historic Downtown Roswell.

Austin Graham and David Harrington of Matthews Real Estate brokered the transaction on behalf of the seller, CGI Strategies, a firm out of Woodland Hills, CA. The buyer, Zevulon Capital, is based out of Atlanta. The buyer was interested in adding another well-located value-add deal to its growing Atlanta portfolio.

“This particular property is unique in that it is one of the few, older vintage garden-style properties in Historic Downtown Roswell,” said Austin Graham, a senior associate at Matthews. “With most of the supply in the area being Class A, new construction units, the buyer will benefit by being able to take advantage of significant rental upside while still remaining the affordable rental option.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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