Cushman & Wakefield has arranged the $31.15 million sale of Hickory Falls, a 220-unit apartment community located in Villa Rica, Georgia. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the seller, Wilkinson Group, in the transaction. InterCapital Group acquired the property.
“Atlanta’s western suburbs have attracted a lot of investor attention lately as fundamentals are very strong,” Swenson said. “Access to employment nodes along Atlanta’s western edge, from the Galleria to the airport, is convenient, and ongoing economic expansion in warehouse, industrial and logistics jobs continues to attract new residents. Limited multifamily inventory and development barriers also add to the attractiveness for investment. Hickory Falls benefitted from all of these factors.”
Built in 2003, Hickory Falls is primed to benefit from an interior value-add initiative, evidenced by a strong demand for higher finishes within the Villa Rica submarket. Amenities include a swimming pool, fitness center, two tennis courts and a dog park.
Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2018 based on closed transactions, totaling more than $4.5 billion in sales volume, according to Real Capital Analytics.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.