Professional Equity Management (PEM) paid $70 million for the Series at Riverview Landing. The Atlanta Business Chronicle reports the seller was Prestwick Cos., which developed the 270-unit project as part of a master-planned community along the Chattahoochee River in Smyrna.

Completed in 2022, Series at Riverview Landing is a four-story development with an average unit size of 919 square feet. Residents have access to a rooftop lounge, a two-story fitness center, a pool, a coworking lounge, and a dog park, among other amenities.

The area is also home to The Eddy at Riverview, another apartment development with 310 units. Multiple businesses have opened on the ground level of the residential buildings, including Chattahoochee Coffee Co. and Reformation Brewery.

PEM now owns four Georgia properties. “Georgia continues to demonstrate strong fundamentals – robust job growth, favorable demographics, and limited new supply,” said PEM President Colson Franse.

In a separate transaction, the company recently acquired the newly built EmmaJames, a 280-unit apartment development fronting the river in downtown Savannah.