Investors Management Group buys $43 million Veridian at Sandy Springs Apartments

Woodland Hills, CA— January 14, 2021— Investors Management Group, Inc. (“IMG”) continues to expand its Southeast multifamily portfolio with the acquisition of Veridian at Sandy Springs in the Atlanta metro. The real estate investment and asset management firm paid $42.9 million for the 272-unit property, or approximately $157,700 per unit.

IMG has acquired Veridian at Sandy Springs at 1800 Windridge Drive. The real estate investment and asset management firm paid $42.9 million for the 272-unit gated apartment community.

Built in 1980, the garden-style apartments offer residents a renovated clubhouse, fitness center, pool and picnic areas. The gated community consists of 17 buildings with 1- and 2-bedroom units that recently received over $5 million in upgrades.

The California-based owner-operator plans to invest an additional $2.3 million in capital improvements.

“We see a great deal of upside potential in this affluent Fulton submarket boasting a $128,000 average household income,” said IMG acquisitions director Kevin Crook, who pointed out that the firm’s portfolio of rental properties in the Atlanta metro is currently 96 percent leased.

This is IMG’s tenth multifamily project in the Atlanta area. IMG has purchased 2,500 units in Georgia since late 2013, totaling $233 million in acquisitions across Lawrenceville, Duluth, Marietta, Sandy Springs and Buckhead. In the past year, IMG has sponsored the acquisition of 1,200 units totaling $181 million in transactions nationally. Investors included tenants in common and limited partners, as well as 30 completing 1031 exchanges.

“This purchase is significant for two reasons,” CEO Neil Schimmel noted. “First, it demonstrates investor confidence in Atlanta as a Sun Belt magnet at the forefront of the economic recovery. Year-over-year rent growth is well above the national average. Transaction activity may have paused early in the pandemic, but it’s back in surge mode.”

“Secondly, it reflects a focus on suburban markets, which are benefitting from a fast-growing base of highly educated workers. These two trends will support outsized appreciation as the market continues moving upward.”

Mike Kemether and Travis Presnell of Cushman & Wakefield served as brokers in the transaction. Freddie Mac financing was secured through Charlie Mentzer at Capital One.


Founded by Neil Schimmel, Investors Management Group (“IMG”) is a real estate sponsor focused on multifamily assets across a national platform. For over a decade, IMG has grown investor capital by increasing rental housing value and enhancing the resident living experience. IMG has acquired 9,500 multifamily units representing 41 properties nationally since 2010. Of the properties sold, the average return was 27%. IMG currently owns and operates 3,800 apartment units in nine U.S. metros. Total investor capital in IMG-sponsored multifamily real estate exceeds $360 million.

Investor inquiries: Call Dave Mikkelsen at (747) 262-5600 ext. 652 or email

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