Sutter Hill Buys Apartment Community in Atlanta for $68.8M

ATLANTA — Toronto-based Sutter Hill Acquisition Corp. has purchased The District at Vinings Apartments, a 464-unit multifamily community located in Atlanta’s Vinings district. Sutter Hill acquired the property for $68.8 million and plans to invest up to $7 million in renovations. The community is situated on nearly 38 acres at 2800 Paces Ferry Road S.E., less than 3 miles from the new SunTrust Park under construction in Cobb County. Sutter Hill has hired Stonemark Management to manage the pet friendly community and supervise the renovations, which will include updates to the clubhouse, fitness center, landscaping and exteriors.