Greystone Brown Real Estate Advisors Closes $44.2 Million Sale of Affordable Housing Property in Marietta, Georgia
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NEW YORK, June 15, 2021 (GLOBE NEWSWIRE) -- Greystone Brown Real Estate Advisors announced it has closed the $44,240,000 sale of a multifamily property in Marietta, Georgia. Greystone Brown represented the seller, Olive Tree Holdings, in the deal. The Greystone Brown team leading the transaction included Taylor Brown, Cory Caroline Sams, Chandler Brown, Barden Brown, and Walter Miller.
Located in Cobb County, The Life at West Cobb Apartments is situated at 2665 Favor Road. The multifamily asset consists of 395 units and is a 90% Low Income Housing Tax Credit property in a highly desirable area of North Atlanta.
“We have built a wonderful partnership with Olive Tree Holdings, and are appreciative that they have placed their trust in us to work on more than ten dispositions,” said Taylor Brown, Director at Greystone Brown Real Estate Advisors. “This asset in particular faced some challenges during the pandemic, including a lower occupancy and disruption in collections, but it’s a quality property in a fantastic location, so it commanded a strong purchase price.”
About Greystone Brown Real Estate AdvisorsGreystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily and retail properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region. Greystone Brown real estate professionals are committed to understanding the objectives of maximizing yields and profits while being able to meet critical time frames. For more information, visit www.brownra.com.
PRESS CONTACT:Karen MarottaGreystone212-896-9149Karen.Marotta@greyco.com
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