GREA Oversees $56M Switcheroo of Four-Multifamily Property Swap
Atlanta, GA-based Global Real Estate Advisors has facilitated the sales of four multifamilies in metro Atlanta between R. James Properties and Crown Bay Group, LLC, in which each company sold two properties to the other and purchased two properties from the other. The transactions represented 769 units and a total sales amount of $55.9 million.
GREA represented R. James Properties in each of the transactions:
Bullock Habersham in East Point, 128 units, $14.1 million Seller: R. James Properties
Dodson Courtyard in East Point, 75 units, $6.4 million Seller: R. James Properties
Southlake Cove in Jonesboro, 346 units, $27.1 million Seller: Crown Bay Group, LLC
Vineyard Pointe in Riverdale, 108 units, $8.3 million Seller: Crown Bay Group, LLC
“We were excited to be part of this unique property ‘swap,’ which was a first in my career,” said Barden Brown, founding partner of GREA’s Atlanta office. “All four transactions were contingent on the others closing. While the four properties are similar in size, the owners had different investment objectives, making the swap appealing to both parties.”
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.