The Park at Arlington multifamily complex in Covington recently sold for $33 million. 

Located at 30 Grosslake Parkway, the community was built in 2001 and comprises 188 units, including one-, two- and three-bedroom floor plans, with approximately 75% of them in two- and three-bedroom layouts. 

Global Real Estate Advisors represented the seller, AML LLC, which sold the property to XSITE Capital Investments of Maryland. GREA’s John Topping Jr., Taylor Brown and Chandler Brown handled the sale. 

“Covington continues to gain momentum as an investment destination and is emerging as one of the stronger secondary markets within the Atlanta MSA,” Topping said. “While several Atlanta submarkets have experienced operational headwinds due to new supply, Covington has maintained high occupancy and low delinquency. Ongoing investment along the I-20 East corridor, including major commitments from Rivian and Meta, positions the submarket for sustained growth and long-term success.” 

XSITE Capital plans to conduct an interior value-add program alongside certain amenity improvements.