Berkadia announced today the sale of Villas at Duluth, a 164-unit garden-style multifamily property in Duluth, Georgia. Senior Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matt White of Berkadia’s Atlanta office completed the $21.8 million sale on behalf the seller, New York-based The Walden Group. The buyer was Benimax, based in Atlanta, and the deal closed on August 27.

“With an average unit size of almost 1400 square feet, Villas at Duluth offers the opportunity for large rent growth on an already well-performing asset,” said Mays.

Located at 1470 Boggs Road NW, Villas at Duluth features one-, two-, three- and four-bedroom floor plans with air conditioning and private balconies. Community amenities include a fitness center, a playground, a pet park, a soccer field, a swimming pool and a barbecue area. Residents are afforded convenient access to Sweetwater Creek, Lee Daniel Creek and the shops and restaurants along Old Norcross Road.

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

To learn more about Berkadia, please visit www.berkadia.com.