Courtesy of the Carlyle of Sandy Springs.
A Washington, D.C.-based real estate investor purchased a 389-unit Sandy Springs garden-apartment community for $106 million.
Courtesy of Google Maps.
Located at 501 North River Parkway, the Carlyle of Sandy Springs was built in 1972 and offers one-, two-, three- and four-bedroom apartments. Around 120 of the units have been fully renovated, leaving the remaining residences “primed for an interior value-add program,” said Cushman & Wakefield, which helped broker the Feb. 1 sale for Spyglass Capital Partners LLC. Washington REIT was the buyer.
Community amenities include a resort-style swimming pool, fitness center, grilling station with fire pit, dog park, playground, business center and controlled-access gates, while the units have granite countertops, gourmet kitchens and wall-to-wall plank flooring.
The Carlyle is in a prime location between Roswell Road and Georgia 400, C&W said in marketing materials for the property. It is surrounded by millions of square feet of retail and is “steps” from the Chattahoochee River and numerous nature-trail systems.
Courtesy of the Carlyle of Sandy Springs.