Investors Management Group sold The VIC at Buckhead apartment complex to CentryStone for $8.5 million.
Located at 3518 Roswell Road, the garden-apartment community was built in 1962. The asset features 40 units with two-bedroom floorplans.
CentryStone, led by President Kelly Zhaoju Shen, plans to complete interior and exterior renovations of the property and build resident amenities on underutilized space.
Taylor Brown, Kyle Shelnutt, Cory Caroline Sams and Walter Miller of Global Real Estate Advisors (GREA) managed the sale on behalf of Investors Management, which is led by founder and CEO Neil Schimmel.
“GREA was proud to represent the sellers of The VIC at Buckhead, bring an offer with non-refundable earnest money and negotiate a smooth closing during a volatile commercial real estate environment,” Brown said in a news release.