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Atlanta & Southeast  + Apartments  |  December 17, 2019
David Cohen
By: David Cohen

Sandy Springs Apartment Community Trades for $54M

Cushman & Wakefield has arranged the $53.8 million sale of The Reserve at Ridgewood, a 269-unit apartment community in metro Atlanta.

Built in 1981, The Reserve at Ridgewood is located on Roswell Road in Sandy Springs. The previous owner recently completed a comprehensive renovation that included a revamped leasing office, fitness center, pool area and interior upgrades.

Nathan Swenson, Travis Presnell and Mike Kemether of Cushman & Wakefield represented the seller, Aspen Square, in the transaction. Resolute Real Estate acquired the property.

“The ongoing renaissance of Sandy Springs has provided high-octane fuel to rental rates in the area and economic diversity that is the bedrock of investment fundamentals,” said Swenson. “Reserve at Ridgewood offered the buyer an opportunity to capitalize on the long-term prospects of Sandy Springs.”

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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