J.P. Morgan has purchased The Cottages at Ridge Pointe, Athens, Ga., for $50.75 million from Vinings-based Jim Chapman Communities.
The 216-unit property comprises single-story rental ranch cottages.
The Cottages at Ridge Pointe is Athens' first-of-its-kind deluxe horizontal apartment community, featuring charming single-level, ranch-style homes. Each rental cottage boasts a variety of features including private patios and front-porch entryways, chef-inspired kitchens with granite countertops and subway tile backsplashes, designer lighting, stainless steel, energy-efficient appliances, wide doorways, a zero-step entry into the home, walk-in closets and attached, single-car garages.
Other amenities include resort-style pool and 4,000-square-foot clubhouse with fitness center, catering kitchen and leasing and management offices.
