Cumberland apartments sell for $54.6 million 

by John Yellig

Courtesy of The Metro.

An Irvine, Calif.-based real estate investment firm sold the 200-unit Metro apartment community in Cumberland for $54.6 million last month. 

Courtesy of Google Maps.

The 13.1-acre property is located at 1500 Parkwood Circle in the Platinum Triangle office district and was 96.5% leased when it changed hands on Dec. 9, according to a press release.  

A unit of Starboard Realty Advisors purchased the property for $38 million in 2018, according to Cobb County records. Starboard said the sale generated a 128% return to its investors. 

“The prime location of The Metro in such a thriving economy ensured consistent occupancy of the property,” Starboard COO Steve Carlton said in the release. 

The community offers one- and two-bedroom units with granite countertops, stainless-steel appliances and patios or balconies. Common-area amenities include a saltwater swimming pool, dog park, coffee and tea bar, fitness center with yoga studio, game room and car-charging stations. 

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