Cushman & Wakefield closes $51 million sale on behalf of Mesa Capital Partners

Riverstone Apartment Homes sells for $155,488 per unit

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Riverstone Apartment Homes
Cushman & Wakefield arranged the $51 million sale of Riverstone Apartment Homes, a 328-unit community located in Augusta, Georgia.

Cushman & Wakefield has arranged the $51 million sale of Riverstone Apartment Homes, a 328-unit community located in Augusta, Georgia. Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the seller, Mesa Capital Partners, in the transaction. NorthRock Companies acquired the property.

“The transaction and closing were handled very professionally by NorthRock,” said Jeff Tucker, Managing Partner of Mesa Capital Partners. “Cushman & Wakefield always delivers an exceptional, seamless process for us.”

Riverstone Apartment Homes, built in 2014, is located in desirable West Augusta just off Lewiston Road on Halton Drive, and surrounded by premier shopping. Amenities include a bark park, clubhouse, car care center, fitness center, playground and swimming pool.

“Riverstone offers the buyer a unique opportunity to acquire a highly visible property in the middle of Augusta’s growth path,” said Bird. “The property’s above-average floor plans provide an exceptional value-add strategy. Riverstone is set up well for the continued evolution of Augusta being located minutes from the new Cyber Command Center at Fort Gordon, the planned Columbia County hospital, and zoned within the county’s top school district.”

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on more than $4.8 billion in multifamily investment sales through the third quarter (Source: Real Capital Analytics). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.