Marietta multifamily community sells for $75.5 million 

by John Yellig

Community amenities include a swimming pool, leasing center/clubhouse and fitness center. Courtesy of Ivy Commons.

Real estate firm Capital Square sold the 344-unit Ivy Commons Apartments community in Marietta for $75.5 million. 

3555 Austell Road SW. Courtesy of Google Maps.

Capital Square acquired the 28.4-acre property at 3555 Austell Road SW in July 2018 on behalf of a group of Delaware statutory trust, or DST, investors. According to Capital Square, the investors realized a total return of approximately 200% and an internal rate of return of 20% from their 1031-exchange investment. 

Ivy Commons comprises 39 buildings with one-, two- and three-bedroom units averaging 1,075 square feet. Community amenities include a leasing center/clubhouse, swimming pool, fitness center, business center, tennis courts, laundry facility, playground and conference room. 

Capital Square spent about $2.7 million renovating and upgrading the property. 

“This value-add DST program produced stable cash flow as anticipated and an exceptional profit on sale, resulting in approximately 200% total return and 20% IRR,” Capital Square founder and co-CEO Louis Rogers said in a press release. “The investors are thrilled with the outcome; most are reinvesting with Capital Square in another DST/1031 to continue the tax deferral under Section 1031.” 

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