Vista Realty Partners sells Georgia apartment property for $49 mln


Vista Realty Partners has sold Sandy Springs, Georgia-based Northridge Vista Apartments to Hudson Capital Properties for $49 million. The property consists of 220 luxury apartment units.

PRESS RELEASE

ATLANTA, Sept. 12, 2018 /PRNewswire/ — Vista Realty Partners announces today the sale of 220 luxury apartment units to Hudson Capital Properties, totaling a gross price of $49 Million Dollars.

The project, known as Northridge Vista Apartments, is located in Sandy Springs, Georgia; an affluent suburban Atlanta market located less than 10 minutes away from the newly established US Headquarters of Mercedes Benz. It is conveniently located to all of Atlanta’s major employment centers, minutes from the Perimeter and Buckhead sub-markets.

The Purchaser is a New York based entity headed by the family which runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation’s largest airport news and concessionaire.

Stellar property performance combined with a very desirable location and luxury amenities created an ideal opportunity for the Purchaser to expand its holdings in the Atlanta market by purchasing this newly completed luxury apartment community in a supply-constrained sub-market of Atlanta.

The Seller, a joint venture between Vista and Lubert Adler Real Estate Funds, is led by Eduard de Guardiola, a leading multifamily developer based in Atlanta, GA.

Vista Realty Partners is an Atlanta based real estate investment company with over 20 years of experience specializing in the ownership and development of multi-family housing throughout the Southeast, having developed in excess of 14,000 multifamily units with a value in excess of $1.5 Billion Dollars. Vista was founded in August, 2000 by Eduard de Guardiola.