Riverstone Apartment Homes Sells for $155,488 Per Unit
Cushman & Wakefield has arranged the $51 million sale of Riverstone Apartment Homes,a 328-unit community located in Augusta, Georgia. Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the seller, Mesa Capital Partners, in the transaction. NorthRock Companies acquired the property.
“The transaction and closing were handled very professionally by NorthRock,” said Jeff Tucker, Managing Partner of Mesa Capital Partners. “Cushman & Wakefield always delivers an exceptional, seamless process for us.”
Riverstone Apartment Homes, built in 2014, is located in desirable West August a just off Lewiston Road on Halton Drive, and surrounded by premier shopping. Amenities include a bark park, clubhouse, car care center, fitness center, playground and swimming pool.
“Riverstone offers the buyer a unique opportunity to acquire a highly visible property in the middle of Augusta’sgrowth path,” said Bird. “The property’s above-average floorplans provide anexceptional value-add strategy. Riverstone is setup well for the continued evolution of Augusta being located minutes from the new Cyber Command Center at Fort Gordon, the planned Columbia County hospital, and zoned within the county’s top school district.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on more than $4.8 billion in multifamily investment sales through the third quarter (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
