Starboard Realty Advisors' Sale of Atlanta, GA Apartment Community Brings Investors 128% Return
IRVINE, Calif., Jan. 25, 2022 -- Starboard Realty Advisors is pleased to announce the sale of The Metro - which occurred on December 9th, 2021. This 200-unit apartment community is located in northwest suburban Atlanta, Cobb County, GA. Mike Kemether, and Travis Presnell of Cushman & Wakefield represented Starboard in the transaction.
Located at 1500 Parkwood Circle, the property was 96.5% leased at the time of sale. The Metro contains a mix of 1 and 2 bedroom units featuring granite countertops, stainless steel appliances, and patio/balconies. In addition, the community boasts luxury amenities including a saltwater swimming pool, dog park, coffee & tea bar, fitness center with yoga studio, game room, and car charging stations.
The 13.1 acre community is situated in the Platinum Triangle office district that is home to 125k jobs and 4 Fortune 500 firms. "The prime location of The Metro in such a thriving economy ensured consistent occupancy of the property", said Steve Carlton, Starboard's Chief Operating Officer.
Through the sale of this multifamily property, Starboard provided a 128% return to investors and the opportunity to engage in tax-deferred 1031 exchanges.
About Starboard Realty Advisors, LLC Starboard Realty Advisors, LLC, headquartered in Irvine, California, acquires, manages, and operates multi-family, multi-tenant retail shopping centers and QSRs. Starboard is a privately held, fully integrated real estate firm, whose principals have more than 30 years of hands-on, cycle-tested experience in acquiring, developing, leasing, repositioning, managing, financing, and disposing of retail, multifamily, office and industrial real estate during which they have developed a network of relationships with brokers, sellers, retailers, and an array of other tenants.