19 Mar Broadtree Expands ATL Portfolio With $59M Buy
Stone Ridge, at 3000 Cumberland Club Drive
Broadtree Residential has acquired a 440-unit apartment community, in Vinings, Ga. Ventron Realty sold Stone Ridge at Vinings for $58.8 million.
The community is located at 3000 Cumberland Club Drive, near interstates 75 and 285. Stone Ridge’s unit mix consists of 44 studios, 112 one-bedroom, 220 two-bedroom and 64 three-bedroom apartments, ranging in size from 475 to 1,694 square feet. The property has a total of 452,612 square feet of rentable space. Patios, balconies or sunrooms are available in all units, while some of them feature walk-in closets, fireplaces and washer/dryer connections. Common amenities include:
a fitness center clubhouse business center swimming pool dog park tennis court
Stone Ridge is minutes away from Cumberland Mall, Akers Mill Square and several other shopping and dining destinations, situated near the diamond interchange of Atlanta’s Perimeter (I-285) and Interstate 75. The major thoroughfares provide a commute option towards nearby employers, with downtown Atlanta at about 20 minutes’ distance by car.
“We are excited to add the Stone Ridge at Vinings apartment community to the Broadtree portfolio, and plan to work closely with BH Management to unlock additional value through property and unit-level improvements, enhanced operations and best-in-class management,” said Chris Czarnecki, CEO of Broadtree, in a prepared statement.
Image courtesy of Broadtree Residential