N. Fulton apartment complex sold for $32 million


N. Fulton apartment complex sold for $32 million

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For the AJC
A crew works on multi-family housing rises in downtown Sandy Springs.

StoneBridge Investments, a company based in Washington, D.C., recently bought a 272-unit apartment complex in Sandy Springs.

The sale was completed on Aug. 1, and StoneBridge acquired the Veridian at Sandy Springs for $32 million from Covenant Capital Group LLC, which is based in Nashville.

Covenant purchased the property at 1800 Windridge Drive nearly four years ago for a little more than $15.3 million. A press release says the company invested $4.8 million into updates and renovations there.

“We’re proud of the work we did to revitalize these apartment communities in Atlanta, which both are in burgeoning neighborhoods within the metro area and possess a tremendous long-term outlook,” Govan D. White, managing partner and co-founder of Covenant, said in a statement.

The Verdian at Sandy Springs is a gated complex that features one and two-bedroom apartments. The complex also features a pool, a gym, a grilling area, tennis courts, a puppy park and more.

Monthly rents range from $924 to $1,856 per month, according to the complex’s website.

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Children are now having to walk about a half a mile to the new bus stop
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