Douglasville Rental Asset Trades for $73.25M
Resia offloaded a 433-unit multifamily community in Douglasville. Elmington Residential paid $73.25 million for the property. Douglasville is a town of 35,000, 20 miles west of Atlanta.
Resia Tributary, located at 1851 Market St., was completed in 2023 and offers 314,065 square feet of residential space across seven buildings. The property features a mix of furnished studios, one- and two-bedroom apartments. Residents enjoy access to amenities including a 24-hour fitness center, swimming pool, pickleball court, outdoor gaming area, dog park and a multi-purpose community room with workspaces.
The property boasts 12,341 square feet of on-site retail space, leased to various tenants offering dining, wellness and shopping options steps from residents’ homes.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Peter Yorck, John Weber and Dean Shoham.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout