16B — June 28 - July 11, 2019 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
TLANTA, GA — StoneBridge In- vestments of Wash- Gutting and Bloom of JLL represent seller DC's Stonebridge acquires 196-Unit Atlanta Metro apartment community for $33.4 million A
“With its strong employment growth, excellent quality of life, and relatively low cost of living, we remain bullish on the dynamic Atlanta market,” said Kees Bruggen , man- aging director, StoneBridge Investments. “Our location in Sandy Springs, on the GA- 400 corridor, puts us directly in the path of growth, and in close proximity to great schools, high-end demograph- ics, world-class cultural ame- nities, and major employment centers.” Built in 1996 on a lushly landscaped 17-acre site near
the Chattahoochee River, River Vista’s strategic location provides unmatched accessi- bility to the booming employ- ment hubs of North Fulton and Perimeter Center, home to nearly 300,000 jobs. “River Vista has historically enjoyed strong performance, and we believe there is a com- pelling growth opportunity remaining through strategic renovations and continued modernization of the prop- erty,” said Will Bateman , director, StoneBridge Invest- ments. “By performing in-unit renovations along with more comprehensive exterior im- provements to enhance curb appeal, we aim to close the gap between River Vista and its newer competitors while still maintaining its relatively affordable position in the sub- market.” Ad v a n c e h i r e s Walsh as managing dir. of development & construction svcs. BEDMINSTER, NJ — AdvanceRealty Investors , a Northeast U.S. owner, de- hired TomWalsh as manag- ing director of development and construction solutions. A 40-year veteran of the New York/New Jersey com- mercial real estate industry, Walsh will team up with principal and managing di- rector Daniel Cocoziello to oversee all aspects of de- velopment, renovations and construction on Advance’s rapidly diversifying portfo- lio, which includes several ongoing multifamily, indus- trial, office and mixed-use projects. With the addition of Walsh – who most recently served as principal and managing director of project manage- ment for Avison Young's New Jersey, New York and Boston offices – Advance is positioned to provide devel- opment and construction management services to large corporations and other strategic partners. Tom Walsh veloper and manager of residential, industrial, mi xed-use and class A office prop- er t i es an- n o u n c e d that it has
ington, DC, has acquired River Vista, a 196-unit upscale gar- den apartment community in the suburban Atlanta com- munity of Sandy Springs, for $33.4 million. The seller, an affiliate of The Milestone Group, was represented by David Gutting and Derrick Bloom of JLL . This is StoneBridge’s fifth apartment community acqui- sition in the Atlanta metro market over the past several years, for a total of 1,148 units.
River Vista
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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