The recently opened Alta Bridges apartment community in McDonough was sold to Indiana-based Sterling Group, which plans to rebrand the 250-unit asset as Icon Bridges. 

Cushman & Wakefield’s Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick represented the sellers in the sale, while Greystone’s Donny Rosenberg and Justin Kantrowitz originated a Freddie Mac loan to finance the deal. Cushman & Wakefield’s Walker Brown was also involved in the financing. Seller information was not disclosed, but Henry County records show the property, owned at the time by Alta McDonough Owner LLC, was assessed at $43.8 million earlier this year. 

“The sellers successfully developed and stabilized a high quality, low-density multifamily community near downtown McDonough within Henry County, which has seen nationally recognized rent growth and sustained multifamily demand,” Stickel said in a press release. 

Community amenities include a resort-style pool with tanning ledges and sundeck, outdoor grilling and dining area, resident clubhouse with gaming table and catering kitchen, fitness center and coworking tech lounge. All apartments come with full-sized washer/dryers, wide-plank flooring, granite countertops and subway tile in shower and kitchen backsplash. Detached garages are available for lease. 

“Sterling Group leveraged their development experience in this submarket and diversified their holdings through the acquisition of this institutional quality, garden-style asset,” Brown said.

A shot of the community before its renaming. Courtesy of Cushman & Wakefield.