Sale: Joint Venture Sells Apartment Community In Georgia For $65.8 Million
A joint ventureship has sold Promenade at Newnan Crossing, a 24.3-acre apartment community near Atlanta, Ga.
Where is it happening?
Who is involved?
Sellers: PointOne Holdings, Batson-Cook Development Company, Novare Group
Buyers: Capital Square 1031
When is it happening?
The property has already been sold.
Why is it important?
This sale represents a continuation of PointOne Holdings’ strategy of selling “older vintage value-add properties and pivoting to develop well located garden-style, class-A, multifamily properties in major market suburbs.” (Leo Peicher, PointOne Holdings Managing Partner, Cision PRWeb).
Part of a 123-acre mixed-use master development
25.5-mile multi-use pedestrian pathway
Direct access to 360,000 SF Piedmont Newnan Hospital
45-minute drive to Atlanta
298 residential units
Mix of three-story buildings, “manor-style” rentals, and townhome rentals
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