
Stockbridge Multifamily Sells for $15.7 Million
GREA has announced the $15.66 million off-market sale of The Reserve at Stockbridge.
GREA represented the seller, Hallmark Properties, which sold the asset to Think Multifamily. Barden Brown, Taylor Brown and Chandler Brown of GREA managed the sale.
Located at 115 Rock Quarry Road, The Reserve at Stockbridge is a 1987-built 88-unit garden-style community with two-bedroom floorplans situated 17 miles southeast of downtown Atlanta.
Think Multifamily will continue the positive momentum of the previous owners with low bad debt and excellent tenants. The new owner will also benefit from recent rent growth in Henry County.
“GREA was proud to represent the sellers of The Reserve at Stockbridge,” said Barden Brown, founding partner of GREA in Atlanta. “We are excited for the buyer as they execute their business plan, which is to reduce the loss to lease on the rent roll and keep bad debt low (currently below two percent).”
- ◦Sale/Acquisition