Stonebridge Acquires Apartment Complex in Metro Atlanta for $33.4M
SANDY SPRINGS, GA. — Stonebridge Investments has acquired River Vista, a 196-unit apartment complex in Sandy Springs, for $33.4 million. River Vista was built in 1996 on 17 acres near the Chattahoochee River. Amenities include access to the Chattahoochee River National Recreation Area, an outdoor swimming pool with sundeck seating, clubhouse, outdoor kitchen and social area with grills and TV, playground and a 24-hour fitness center. River Vista offers one-, two- and three-bedroom floor plans averaging 1,098 square feet. David Gutting and Derrick Bloom of JLL represented the seller, an affiliate of The Milestone Group, in the transaction. HFF provided a $22.9 million Freddie Mac acquisition loan to the buyer. The seven-year, fixed-rate loan offers five years of interest-only payments through Freddie Mac’s Green Advantage program.