CBRE has facilitated the sale of two apartment portfolios in Metro Atlanta, Georgia, totaling five properties and 1,234 units worth $159.7 million. Three of the apartment complexes were purchased by LRE Management LLC while the other two were bought by Greybrook.

Shea Campbell, Ashish Cholia, Kevin Geiger, Keith Geiger, Colleen Hendrix, Don Hoffman, Malcolm McComb, and Kurt McGarry of CBRE Southeast Multifamily represented the seller, affiliates of Harbor Group International, LLC, in both transactions.

“While many institutions are taking a ‘wait and see’ approach, savvy entrepreneurial investors with plenty of capital to deploy are making good investments today,” said Kevin Geiger, Vice Chairman with CBRE in Atlanta. “Both LRE and Greybrook will be rewarded in the near term as rents and occupancies rebound in a relatively short period of time. Most everyone in the multi-housing industry has acknowledged that there will be a shortage of housing over the next five years - and certainly, the new owners of these five properties are going to experience great value appreciation.”

The largest of the two transactions involved LRE Management buying three properties with 778 total units for $102.5 million. The portfolio includes Peachtree Landing in Fairburn, Eastwood Village in Stockbridge, and Monterey Village in Jonesboro. The smaller transaction, executed by Greybrook, includes Meadow Springs and Meadow View, both in College Park. The two properties have 456 apartment units combined and were purchased for $57.2 million.

LRE Management is a leading real estate investment company with a focus on repositioning and renovating institutional-grade multifamily properties in the Sun Belt and Midwest regions. LRE has acquired over 6,600 units across 10 states, with a value exceeding $1 billion of real estate. LRE invests its own capital side-by-side with its network of family offices, ultra-high net worth investors and small- and mid-size institutions.

Greybrook, headquartered in Toronto, Canada, actively invests equity on behalf of individual and institutional investors in large-scale real estate developments and existing properties. Its growing North American real estate investment portfolio includes more than 70 million square feet of density with an estimated completion value of over $38 billion.