MF COMPLEX SELLS IN ATLANTA

MARIETTA, GA. — Stamford, Conn.-based Ceebraid-Signal has purchased Rivers Apartment Communities, a 708-unit multifamily complex consisting of three enclaves in Marietta, from Houston-based Greystar Management and Norwalk, Conn.-based General Electric Capital, for $72 million. The Preserve Apartment Homes, The Pointe Apartment Homes and The Park Apartment Homes are situated on contiguous lots, totaling 77 acres, adjacent to the Chattahoochee River along Powers Ferry Road. The garden-style communities feature swimming pools, fitness facilities and tennis courts. Ceebraid-Signal will renovate the properties to include a movie theater, rock climbing wall and indoor basketball court, among other improvements. Apartment Realty Advisors of Atlanta represented the seller in the transaction.