Matthews Real Estate Investment Services has arranged the $8.5 million sale of Hidden Cove Apartments, a 164-unit apartment property in Atlanta’s East Point suburb.
Located at 1900 Stanton Delowe Road, the property was built in 1965 and is situated on a nearly 12-acre lot. The property includes 200 parking spaces as well as a fitness center, pool, basketball court and playground. The community is located nearby Hartsfield-Jackson Airport as well as I-85, I-75 and I-285.
Austin Graham, Connor Kerns and David Harrington of Matthews represented the seller, Infinity BH, in the transaction. The buyer was Joe Harker of Sarmaya Capital. The asset included 20 units that were unrentable and in need of major renovations. The buyer plans to spend approximately $2 million on renovations and capital improvements to the property.
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.
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