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Urban Partnership Pays $3M for 92-Unit Heritage Apartments

ATLANTA-The class C multifamily property on Campbellton Road was built in 1970 and was 94%-occupied at the time of the sale. It consists of a mix of two-bedroom apartments and two- and three-bedroom townhouses. Rental rates average about $675 a unit.

By Marita Thomas | Updated on September 19, 2002

ATLANTA-Locally based Urban Partnership Southeast paid $3 million, or an average $32,608 per unit for the 92-unit, class C Heritage Apartment multifamily complex on Campbellton Road. The seller is Heritage Apartments LLC.

The property was built in 1970 and was 94% occupied at the time of the sale. The average rental rate is $675 per unit. The complex consists of 40 two-bedroom units with a bath and half-bath, 26 two-bedroom townhouses with a bath and half-bath, and 26 three-bedroom townhouses with two baths and a half-bath.

Joshua Goldfarb, Marc Robinson and Chris Johnston, principals of locally based Southeast Apartment Partners represented Heritage and located the buyer. Alpharetta, GA-based Integrity Bank provided financing for Urban Partnership.

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