South City Unloads 285-Unit Atlanta-Area Apartments

CBRE has brokered the sale of Signal, a 285-unit mid-rise apartment complex in Hapeville, Georgia, approximately 8 miles south of Downtown Atlanta. 

Shea Campbell, Ashish Cholia, Kevin Geiger, Keith Geiger, Colleen Hendrix, Don Hoffman, Malcolm McComb, and Kurt McGarry of CBRE Southeast Multifamily arranged the sale on behalf of Atlanta-based apartment developer South City Partners. Penler, also based in Atlanta, purchased the property in a joint venture with global investment firm Carlyle (NASDAQ: CG).

Located at 397 N. Central Ave. in Hapeville, Signal was delivered in 2023 and features a mix of one- and two-bedroom units. At an average size of 861 square feet, units include washers and dryers and personal balconies/patios. Community amenities include a multimedia club room, sky lounge, multiple outdoor grilling areas, a pizza oven, a fireside lounge, a complimentary resident coffee bar, a fitness center, a saltwater pool, a dog park, private garages, rental storage units, and more.