Vienna, VA-based Middleburg Communities has disposed of Vesta Camp Creek, a 220-unit apartment community on Welcome All Road in Atlanta, GA.
Travis Presnell, Mike Kemether, Wesley Lacefield and Wesley Kenney of Cushman & Wakefield for represented Middleburg in the transaction.
According to the company, Middleburg acquired the property in May 2019 and invested more than $10 million in the redevelopment of the previously vacant and deteriorated 1975-vintage asset into a community that achieved stabilization with 98% units leased by November 1, 2020.
“When Middleburg acquired Vesta Camp Creek, we quickly engaged our entire team to transform the property, which in some areas had been gutted to the studs and abandoned, into much-needed attainable apartments for working families in Fulton County,” said Michael Bediones of Middleburg Communities.
All 220 units received new interiors and exteriors as well as new electrical, plumbing and HVAC systems. The clubhouse and fitness center were rebuilt, and new laundry facilities and landscaping were added.
Photos courtesy Middleburg Communities
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