PointOne Holdings, Biscayne Atlantic Sell Multifamily Community in Metro Atlanta for $33.5M

REBusinessOnline.com BY Camren Skelton

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SEPTEMBER 18, 2017
LITHIA SPRINGS, GA. — PointOne Holdings, in a joint venture with Biscayne Atlantic, has sold Waterford Point Apartments, a 344-unit multifamily community in Lithia Springs, for $33.5 million. The buyer was not disclosed. Located at 670 Thornton Road, Waterford Point is roughly 18 miles west of Atlanta. The joint venture originally acquired the property in 2014 for $18.7 million and invested roughly $2.5 million in capital improvements, including upgraded interiors, added amenities and updated infrastructure. Community amenities include a swimming pool, fitness center and clubhouse. At the time of sale, the community was 98 percent occupied.

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