Acento Real Estate Partners Acquires 395-Unit Apartment Community In Marietta From Aspen Square Management

The property involved in the transaction is Legacy at West Cobb, a multifamily apartment community located at 2665 Favor Road SW in Marietta, Georgia. The asset comprises 395 units and was built in 1970, with renovations completed in 2021. At the time of closing, the property was 88% occupied, suggesting a demand for housing in the area. The transaction generated significant interest, receiving 20 initial offers due to its affordable rents and opportunities for rent growth.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Address: 2665 Favor Road SW, Marietta, GA
• Units: 395
• Buyer: Andres Gonzalez - Acento Real Estate Partners
• Seller: Rick Steele - Aspen Square Management
• Brokers: Andrew Mays & Paul Vetter - Berkadia

Berkadia facilitated the transaction, successfully brokering the sale from Aspen Square Management to Acento Real Estate Partners. Andrew Mays and Paul Vetter represented the brokerage firm in this deal, showcasing their expertise in the multifamily market.