NEW YORK, March 29, 2017 (GLOBE NEWSWIRE) -- Greystone Brown Real Estate Advisors today announced it has closed on the sale of Chalet Valley, a 140-unit apartment community, for $6,115,000. Located in Dalton, GA, the asset was sold by Augsburg Investments, LLC to Dalton Valley, LLC. Taylor Brown, Walter Miller, Chandler Brown, and Bo Brown of Greystone Brown Real Estate Advisors represented the seller in the transaction.
Chalet Valley is a Class B+ garden-style apartment complex offering 1-, 2-, and 3-bedroom apartments as well as a number of amenities including a swimming pool, laundry and large pet park. The buyer plans to invest approximately $10,000 per unit in renovations.
“For multifamily investors, the lack of supply has been very apparent in the Dalton market, so this transaction marks a wonderful opportunity for the buyer,” said Bo Brown, President, Greystone Brown Real Estate Advisors. “Chalet Valley is a solid investment with its unique amenities and proximity to the Appalachian trail and Blue Ridge Mountains.”
About Greystone Brown Real Estate Advisors
In 2016, Greystone, a real estate lending, investment and advisory company, and Brown Realty Advisors created a joint venture combining Greystone’s comprehensive financial platform and Brown Realty’s sales expertise in multifamily and retail properties throughout the Southeast. In 2015, Brown Realty was #1 for sales of multifamily assets larger than 85 units built previous to 1995. Established in 1975, Brown Realty is one of the largest and oldest privately-held apartment brokerage firms in the South having closed more than $5 billion in acquisitions and dispositions.