Berkadia has facilitated the sale of Legacy at West Cobb in Marietta, Georgia. The property was sold to Maryland-based Acento Partners by Massachusetts-based Aspen Square Management. The sale of the property took place on October 30.
Inside the 395-Unit Marietta Apartment Community
Legacy at West Cobb is a 395-unit apartment community located at 2665 Favor Road SW in Marietta, Georgia. Berkadia Senior Managing Directors Andrew Mays and Paul Vetter led the sale of the community and represented the seller, Aspen Square Management, in the transaction. The property was 88% occupied at the time of the sale.
“Twenty initial offers reflected strong investor interest in the property’s affordable-to-market rent upside and large floor plans,” said Andrew Mays, Berkadia Senior Managing Director. “Despite rate volatility, we attracted qualified buyers and delivered a successful outcome for our client.”
Legacy at West Cobb was built in 1970 and renovated in 2021. Its 395 apartment units feature one-, two-, three-, and four-bedroom floor plans and have an average size of 1,139 square feet. The community also includes townhome-style apartments, which make up 17% of its total units.
The property offers convenient access to Cobb County’s major employment areas, including Cumberland and the Galleria. It is also close to Truist Park and The Battery.
About Berkadia
Berkadia is a commercial real estate company that provides mortgage banking, investment sales, and loan servicing services. It is a joint venture between Berkshire Hathaway and Jefferies Financial Group. The company was formed after the two partners acquired Capmark Financial Group’s mortgage origination and servicing business.
Berkadia works across different stages of commercial real estate ownership, offering services for various property types. Its work covers several property types, including multifamily housing, office buildings, retail properties, hotels, industrial properties, and senior housing.
