ECI Group has sold Chatsworth Apartments in the Central Perimeter area in Chamblee, Ga., for $87 million. The new owner was not disclosed.
The 410-unit, 1980-vintage community was acquired by ECI in 2018 and underwent an extensive common-area renovation over the past four years.
“ECI is proud of the renovations and repositioning at Chatsworth accomplished since we acquired it in 2018, improving the resident experience in a community within an area of high demand in the Central Perimeter submarket,” said Jimmy Baugnon, CIO at ECI Group. “The Chatsworth sale fits with ECI’s strategy to recycle capital from older assets and exchange into newer assets; in this case invested in our recently announced Verso acquisition in Davenport, Fla.”
Chatsworth Apartments is well-located off of North Peachtree Road, surrounded by single-family-home neighborhoods, with immediate access to Interstate 285 and an abundance of employment, retail, and entertainment option
