Newmark has arranged the sale of an apartment community in Sandy Springs. The property includes 25 buildings and is spread across approximately 29.5 acres. The transaction reflects continued investor activity in Metro Atlanta’s multifamily market.
Newmark Arranges Sale of The Bowie in Sandy Springs
Newmark announced the sale of The Bowie, a 350-unit apartment community at 8800 Dunwoody Place. Newmark’s Brooks Colquitt, James Wilber, David Gutting, Derrick Bloom, and Hunter Amos represented the seller in the transaction.
The Bowie is a garden-style apartment community built in 1980. It features 25 buildings spread across approximately 29.5 acres. The property was about 86% occupied at the time of the sale. It has received around $8 million in improvements since 2018.
The property’s existing improvements leave room for additional renovations and operational enhancements, according to Newmark. The sale also shows the continued investor interest in multifamily properties in the area, particularly in established and affluent areas with potential future growth.
Features of the Property
The apartment units in The Bowie include quartz countertops, wood-style flooring, and modern lighting. The units come in one- and two-bedroom floor plans, with some loft-style and split-level layouts. Amenities include a pool, fitness center, outdoor kitchen, playground, and multi-sport court.
Apartment features include private patios or balconies, sunrooms, and oversized windows. There are also fireplaces, built-in bookshelves, washer and dryer connections, controlled-access gates, and a car wash facility.
The Bowie is located in North Sandy Springs near GA-400, Perimeter Center, and the North Fulton office market. The location provides access to major employers, healthcare facilities, and more than 300,000 jobs. It is also located near Chattahoochee River recreation areas, Downtown Roswell, and Atlanta’s transportation network.
Its location in Sandy Springs, along with limited new multifamily development in the area, made the property attractive to investors.
The sale of The Bowie reflects the continued demand for multifamily properties in established Metro Atlanta.
