Stan Johnson Company has completed the $15-million sale of two early childhood education facilities located in the Atlanta submarkets of Cumming and Roswell, GA.

Both properties are leased to Little Sunshine Playhouse on long-term net leases.

Milo Spector of Stan Johnson Company represented the seller, a NY-based private real estate office. A CA-based investor acquired both properties for price reflecting a 5.75 percent cap rate. Both parties were involved in 1031 exchanges.

“This transaction is unique in that we represented the seller on the acquisition of these two properties just a year ago,” said Spector. “In that short timeframe, we were able to capitalize on the aggressive shift in cap rates for this sector. We received multiple offers and ended up selling the properties for 100 percent of ask, all cash to a high-net-worth exchange buyer, setting a new record cap rate.”

The properties were built in 2020.