REBusinessOnline

Ambling Sells 20-Property Multifamily Portfolio in Georgia, Carolinas for $106M

Ambling has sold 20 multifamily properties in Georgia, South Carolina and North Carolina. Pictured is Calhoun Gardens in Calhoun, Ga.

VALDOSTA, GA. — Ambling has sold a 20-property affordable housing multifamily portfolio spanning Georgia, North Carolina and South Carolina for $106 million. The portfolio totals 1,763 units and sold to three separate buyers. Preservation Partners Development purchased 12 communities in Georgia. Six of the communities are currently undergoing substantial rehabilitation that will include updated interiors, as well as updated and improved community spaces. Infinity Real Estate Advisors LLC acquired two North Carolina properties and five South Carolina communities. Jonathan Rose Cos. acquired a property in Savannah, Ga.  Doug Childers, Michael Fox and Ryan Clutter of JLL represented the Valdosta-based seller in the transaction.

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