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Washington DC  + DC Metro  + Apartments  | 
Capital Square has sold Ivy Commons Apartments in Marietta, GA, for $75.5 million.

Capital Square Delivers 200% Total Return on $76M Sale of Marietta Multifamily

Glen Allen, VA-based Capital Square has sold Ivy Commons Apartments, a 344-unit community in Marietta, GA, for $75.5 million.

The property was owned by a group of Delaware statutory trust, investors who realized approximately 200% total return and 20% internal rate of return from their 1031 exchange investment.

“Approximately $2.7 million was invested for renovations and upgrades to the property, improving residential life and the community as a whole,” said Whitson Huffman, Capital Square co-CEO. “This dramatically increased the value of the property.”

Capital Square acquired the 28.4-acre property, located at 3555 Austell Road SW about 10 miles from Atlanta Braves’ home Truist Park, in July 2018. The community comprises 39 residential buildings and a dual leasing center with a clubhouse. Community amenities include a swimming pool, fitness center, business center, two tennis courts, laundry facility, playground and conference room.

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Inside The Story

Capital Square's Huffman

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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