CBRE has facilitated the sale of Chatsworth, a 410-unit gated apartment community located along Atlanta’s top end perimeter, Interstate 285, at 4800 North Hill Parkway. Situated within the largest office market in Metro Atlanta, the property was acquired by ECI Group.
CBRE’s Kevin Geiger led the team that represented the sellers, Titan Real Estate and Investcorp International, in this transaction.
“The property’s strategic location provides Atlanta’s best overall access to the major employment centers of Buckhead, Midtown, Downtown and Cumberland/Galleria,” said Mr. Geiger, vice chairman at CBRE. “Chatsworth is surrounded by superior demographics and a deep, talented resident pool in one of Metro Atlanta’s most affluent areas, where home ownership comes at a higher cost than renting.”
Built in 1980, Chatsworth features large floor plans and amenities including a clubhouse, a new fitness center, two swimming pools, a tennis court, playground, and business center. New ownership has the opportunity to add value by expanding existing interior and exterior upgrades. The community is within close proximity to Assembly Yards, a large 160-acre mixed use development adjacent to the MARTA Doraville station.
About CBRE Group, Inc.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
About ECI Group
For more than 40 years, ECI has been recognized as one of the nation’s premier real estate firms in the development and management of a wide range of properties, from Class A luxury communities to commercial, mixed-use developments. With 8,000 units located throughout the Southeast and regional offices in Georgia, Mississippi and Florida, ECI is strategically positioned to continue to be a leader of the multifamily industry.