The 180-unit Ascent at Riverdale apartment community in Riverdale was sold for $20.5 million in an off-market transaction.
The property is located at 634 Roy Huie Road. Courtesy of Google Maps.
The apartments were built in 1972 and include one-, two- and three-bedroom garden-style and townhome floorplans. The property is located at 634 Roy Huie Road, which is three miles southeast of Hartsfield-Jackson International Airport and one mile west of Southern Regional Medical Center.
The new owner, a joint venture partnership between Kesh Capital and VMR Equity Group, plans to continue the renovation program begun by the previous owner, Cannell Capital Partners, and upgrade the unit interiors and the property’s shared amenities, which include a pool and playground.
Chandler Brown, Taylor Brown, Barden Brown and Mack Leath of GREA managed the sale for Cannell Capital.
“GREA was proud to represent the sellers of Ascent at Riverdale, bring an offer with non-refundable earnest money and navigate a successful closing during a volatile commercial real estate environment,” Chandler Brown said. “We wish the buyer the best as they execute their renovation plan.”