CBRE BROKERS $33M ACQUISITION OF SPRING LAKE APARTMENTS

NEWNAN, GA. — CB Richard Ellis has brokered AREA Property Partners and ECI Group's joint venture acquisition of the 561-unit Spring Lake at White Oak Apartments in Newnan for $33 million. Amenities include two pools and two fitness facilities. The buyer will rename the property The Columns at White Oak. Kevin Geiger, Paul Berry and Malcolm McComb of CB Richard Ellis' Atlanta multi-housing group represented the seller in the transaction.