The newly built 320-unit Foundry at Mashburn Village multifamily community in Cumming was sold for an undisclosed amount while still under construction.
The developer, Terwilliger Pappas, sold the property to Atlanta-based White Oak Partners. It was previously called Solis Cumming under Terwilliger Pappas’ Solis apartment brand.
The Foundry is part of the larger Mashburn Village mixed-use development, which will include retail, civic space and for-sale single-family homes and townhomes.
Cushman & Wakefield Executive Vice Chair Robert Stickel and executive director Alex Brown represented Terwilliger Pappas.
“Along with high barriers to entry, Solis Cumming is an exceptional institutional-quality asset,” Stickel said in a press release. “Terwilliger Pappas and their partners brought premier apartment and placemaking development skills to the supply-starved Cumming … area.”
The property offers a saltwater pool with sundeck and cabanas, fitness center with yoga room, grilling area, dog park and detached garages. It is located amid numerous walkable retail establishments, including a grocery store.
“White Oak Partners demonstrated their incredible aptitude as a buyer with the ability to close on a property that was still under construction,” Brown said.