May
08

Berkadia Announces Augusta Apartment Sale

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soldBerkadia announced today the sale of Oak Hill, located at 817 Hickman Road, Augusta, Georgia. Mark Boyce and Blake Coffey of Berkadia’s Charleston office, along with Jeremiah Jarmin of the Atlanta office, negotiated the transaction on behalf of seller Oak Hill 2008, LLC of Lakewood, NJ. Oak Hill sold on May 1, 2017 to Augusta Hickman Road Multifamily Partners, LLC of Nashville, TN for $6.8 million. The sales price reflects a per-unit price of $56,600 or $77 per square foot. The property was 94 percent occupied at the time of the sale.

“This was an excellent transaction for both buyer and seller. Buyer will implement a renovation strategy that will significantly improve the asset. The superb location coupled with the planned improvements will make Oak Hill a longstanding quality asset for many more years,” said Boyce.

Built in 1972, the 120-unit property features 3-bedroom floor plans. Each unit features fully-equipped kitchens and private balconies. Community amenities include two swimming pools, two laundry facilities, new windows, and new roofs.

Categories : Augusta

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