Berkadia announced today the sale of The Vue at Riverdale, a 106-unit, garden-style multifamily property in Riverdale, Georgia. Director Matthew White along with Senior Managing Directors Andrew Mays and Paul Vetter, and Senior Director Judy MacManus, all of Berkadia’s Atlanta office, led the transaction on behalf of the seller, New Hampshire-based NICAS Group.

The Vue at Riverdale sold to Connecticut-based Amity Companies. The property was 99 percent occupied at the time of the sale.

“Since acquiring the property in 2018, the seller infused approximately $10K per unit into the community as part of an extensive value-add program. Operations began to stabilize in Q1 of this year with collections increasing by more than 75 percent over the prior 12 months alone. The buyer intends to leverage the increased cashflow in order to reposition the asset for continued growth,” said White.

Located at 685 Rountree Road, The Vue at Riverdale was built in 1972 and renovated in 2019. It features 106units with fully equipped kitchens, granite countertops and wood-style flooring.The property affords convenient access to Hartsfield Jackson Atlanta International Airport, Southlake Mall and nearby Southern Regional Medical Center.

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

To learn more about Berkadia, please visit www.berkadia.com.