Cushman & Wakefield Arranges Sales of Three Multifamily Assets in Metro Atlanta Totaling $70.5M

ATLANTA — Cushman & Wakefield has brokered the sales of three multifamily communities in metro Atlanta for a combined $70.5 million. In Cumming, roughly 40 miles northeast of Atlanta, AMF Fountains of Kelly Mill LLC sold the 46-unit Fountains at Kelly Mill for $10.7 million. Constructed in 2017, the property features townhome-style units with 1,620-square-foot floor plans. ALA Sugar Hill LLC sold Sugar Hill Overlook, located 38 miles northeast of Atlanta in Sugar Hill, for $25.8 million. The 131-unit community was completed in 2018 and features townhome-style units with an average size of 1,500 square feet. Nathan Swenson of Cushman & Wakefield arranged the transactions on behalf of the sellers, and Audubon Communities acquired both assets. In Lithia Springs, Cushman & Wakefield arranged the $34 million sale of Sweetwater Creek, a 240-unit community located roughly 18 miles west of Atlanta. Josh Goldfarb, Mike Kemether and Travis Presnell of Cushman & Wakefield arranged the transaction on behalf of the seller, a joint venture between M. Banks Realty Partners and Sage Equities. InterCapital Partners acquired the property. Constructed in 2002, Sweetwater Creek features a car care center, clubhouse, fitness center, laundry facility, business center, swimming pool, lighted tennis court and a walking/jogging trail.