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Birge & Held Purchases Sixth Multifamily in Atlanta Metro
Birge & Held has acquired Merritt at Sugarloaf, 424-unit apartment complex at 2951 Satellite Boulevard NW in the Atlanta submarket of Duluth, GA.
Paul Berry, Kevin Geiger, Shea Campbell, Ashish Cholia, Colleen Hendrix, Don Hoffman and Malcolm McComb of CBRE arranged the sale on behalf of Passco Companies, LLC.
“Passco Companies, LLC had a successful dividend-focused, five-year ownership experience while maintaining the property in excellent physical and financial condition,” said Berry. “Through the sale, Passco Companies, LLC was able to monetize a healthy value gain, supplementing years of steady cash flow. With 80% near-classic units, Birge & Held is also expected to generate rent growth through its planned value-add enhancements.”
Indianoplis, IN-based Birge & Held, a private equity real estate investment, management, and construction, currently owns and manages six projects in the Atlanta MSA.
The 1999-constructed Merritt at Sugarloaf includes a fitness center, two swimming pools, playground, dog park, tennis courts, clubhouse, outdoor grilling areas and package room.
- ◦Sale/Acquisition
