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Related Company buys 468-unit apartment complex for $110M near Atlanta
The Manchester at Mansell property last traded in 2018 for $72.5 million, and the new deal values it roughly 51.7% higher.
Related Company has paid $110 million for a 468-unit garden-style apartment complex in the Roswell and Alpharetta area, according to ConnectCRE.
The asset, known as Manchester at Mansell, was built in 1984 and includes one-, two-, and three-bedroom floor plans, with rental units ranging from 857 to 1,540 square feet. Pricing starts at $1,330, and amenities include a pool, fitness center, clubhouse, and tennis court.
ConnectCRE reports that the seller was Post Real Estate Group, an operating subsidiary of Post Investment Group. The Atlanta Business Chronicle previously reported the property last changed hands in 2018, when Post Investment Group acquired it for $72.5 million.
Post Real Estate Group still owns a handful of multifamily properties in the area, totaling just over 2,600 residential units, ConnectCRE said.