GREA, a full-service real estate advisory firm specializing in multifamily acquisitions, dispositions and financing, announces the $13,899,600 sale of Midwood Belmont Apartments in Smyrna, Ga.
GREA represented the seller in the transaction Yossi Kagan, principal at Zevulon Capital, who sold the asset to Michael Carlone, principal at Highland Canyon Partners. Chandler Brown, Taylor Brown, and Barden Brown of GREA managed the sale.
Located at 1000 Belmont Drive, Midwood Belmont Apartments is a 1972-built garden-style multifamily asset in the desirable Atlanta suburb of Smyrna. The asset features 72 units with one- and two-bedroom floorplans averaging 1,011 square feet.
The new owner plans to finish the interior renovation.
The property’s location just off Windy Hill Road benefits the Windy Hill Boulevard street project. The $29.5 million project, which is currently under construction, will add vehicle barriers, express lanes, medians and other pedestrian improvements. It is also less than three miles from Truist Park and The Battery, the Atlanta Braves baseball stadium and its contiguous mixed-use development.
“The Smyrna submarket is exploding with prime retail, infill location and a sought-after Cobb County school district. Midwood Belmont is in a prime location, making this a highly desirable property,” said Chandler Brown, managing director at GREA. “We were proud to represent the seller in this transaction and wish the buyer the best as they execute their renovation plan.”