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Atlanta & Southeast  + Georgia  + Apartments  |  September 23, 2019
David Cohen
By: David Cohen

Atlanta Apartment Community Trades for $101M

A multifamily fund affiliated with Bridge Investment Group has acquired Edgewater at Sandy Springs, a 700-unit apartment community in Atlanta for $101 million. Located at 7600 Roswell Rd. in Sandy Springs, the garden-style comunity was built in the 1980’s.

Wells Fargo & Co. provided $72.5 million in acquisition financing for the property, before transferring  the loan to Freddie Mac. The seller was NexPoint Residential Trust, which has owned the property since 2014, when it paid $58 million to acquire the community.

Edgewater at Sandy Springs was part of an apartment portfolio that NexPoint announced earlier this year it was selling. The portfolio consisted of 2,218 units, according to reports.

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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