02 Apr Greystone Brown Real Estate Advisors Closes $58.3 Million Sale of Atlanta Apartment Complex
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NEW YORK, March 29, 2018 (GLOBE NEWSWIRE) — Greystone Brown Real Estate Advisors announced it has closed on the $58,300,000 sale of Stone Ridge at Vinings, a 440-unit apartment complex in metro Atlanta. A team comprising Barden Brown, Cory Caroline Sams, Taylor Brown, Chandler Brown, and Bo Brown advised both the seller, Boca Raton, FL-based Ventron Management LLC, which owns 20 properties across Georgia and Florida, and the buyer, Rochester, NY-based Broadtree Residential, a part of Broadstone.
Stone Ridge at Vinings is a 1970s vintage community comprising 49 buildings and spread over 30 acres in an affluent enclave of Atlanta, boasting generous floor plans and reasonable rents for the desirable area.
�In marketing the asset for Ventron, we were confident that the vintage property would attract a lot of interest due to its attractive amenities and the price per square foot compared to costs for new construction. Stone Ridge at Vinings is a highly competitive product with substantial upside for the investor,� said Bo Brown, President, Greystone Brown Real Estate Advisors.
About Greystone Brown Real Estate Advisors
In 2016, Greystone, a real estate lending, investment and advisory company, and Brown Realty Advisors created a joint venture combining Greystone�s comprehensive financial platform and Brown Realty�s sales expertise in multifamily properties throughout the Southeast. Established in 1975, Brown Realty is one of the largest and oldest privately-held apartment brokerage firms in the South having closed more than $5 billion in acquisitions and dispositions.�
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.