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

N. Fulton apartment complex sold for $32 million

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.

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“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.

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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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