Cushman & Wakefield has arranged the $41 million sale of Estates at Perimeter, a 240-unit apartment community located in Augusta, Georgia. Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the sellers, Coastal Ridge Real Estate and H. Katz Capital, in the transaction. Young Homes acquired the property.
“We were extremely pleased to work with the Cushman & Wakefield team once again on the disposition of Estates at Perimeter,” said Patrick R. McBride, Managing Partner of Coastal Ridge Real Estate Partners. “Utilizing their vast network, Taylor was able to quickly and off-market partner us with a well-qualified buyer who met our pricing expectations. They provided a seamless process throughout the transaction.”
Estates at Perimeter, built in 2007, is located in desirable West Augusta at the intersection of Interstates 20 and 520, near premier shopping. Amenities include a bark park, clubhouse, media center, car care center, fitness center, playground and swimming pool. Apartment homes offer elegant finishes with crown molding, track lighting, gooseneck faucets, separate dining area, walk-in closets, ceiling fans, and laundry rooms with washer and dryer included.
“Estates at Perimeter provided the buyer with an exceptional opportunity to invest in an ideally located, well maintained, asset with potential to benefit from a proven value-add strategy in a market that is seeing an influx of jobs and development, spearheaded by the growth of the Cyber Command Center at Fort Gordon 10 minutes away,” Bird said.
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 Coastal Ridge Real Estate Partners
Coastal Ridge Real Estate was established as a full-service real estate investment firm to execute on core, core plus, and light value add investment strategies in the multifamily real estate asset classes. The firm’s vertically integrated platform includes investment management, asset management, property management, ground up development, and construction management. Our portfolio currently includes approximately 14,500 student housing beds and 6,000 conventional apartment units across the country, with assets under management totaling over $2.0 billion. Our equity is structured through multiple investment partnership with public pension funds, private equity funds, insurance companies and family offices. We are headquartered in Columbus, Ohio, with our investment team based in Santa Monica, California, and are led by a team of 500 real estate professionals. The firm was named the last four consecutive years to the Inc.5000 list of Fastest-Growing Private Companies in America and was honored as the #4 Fastest Growing Company in Central Ohio by Columbus Business First.
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.