One of two pools at the Chatsworth Apartments. Courtesy of ECI Group.
Atlanta residential developer ECI Group sold the 410-unit Chatsworth Apartments community in Chamblee for $87 million.
Courtesy of Google Maps.
The property was built in 1980 and purchased by ECI Group in 2018. The company said it conducted “extensive” common-area renovations over the last four years.
“ECI is proud of the renovations and repositioning at Chatsworth accomplished since we acquired it in 2018, improving the resident experience in a community within an area of high demand in the Central Perimeter submarket,” Chief Investment Officer Jimmy Baugnon said. “The Chatsworth sale fits with ECI’s strategy to recycle capital from older assets and exchange into newer assets; in this case invested in our recently announced Verso acquisition in Davenport, Florida.”
Community amenities include two swimming pools, a fitness center, tennis court and playground. Apartments are available in one-, two- and three-bedroom configurations and include screened-in porches, wood-burning fireplaces and sunrooms.
ECI Group has been busy recycling assets in the Atlanta area recently. It recently kicked off development of the $101 million Averly East Village apartment community in East Roswell and opened the first phase of its 260-unit Corwyn South Point project in McDonough in April, while it closed on the $124.8 million sales of two developments around the new year.
Apartments include screened-in porches, wood-burning fireplaces and sunrooms. Courtesy of ECI Group.