272 Units — Atlanta Metro
Veridian at Sandy Springs
Year built: 1980
Location: Sandy Springs, GA
Acquired: January 2021
Purchase price: $42.9M
1031 exchanges: 9
Equity invested: $16.5M
CapEx budget: $2.3M
In the News
Warner Center Firm Makes $43 Million Investment in Georgia Multifamily- San Fernando Valley Business Journal
IMG Snags Sandy Springs Apartments for $43M- Connect Atlanta
IMG buys 272 apartments in Atlanta Metro In $42.9 million acquisition- MultifamilyBiz
Veridian at Sandy Springs is a garden-style apartment community situated within Atlanta's affluent Fulton submarket. Sandy Springs boasts one of Atlanta's largest employment bases and corporate office markets. High household incomes and professional employment within a 5-mile radius of the property support a great deal of upside potential for the property.
The asset presents an outstanding opportunity to own in a high-barriers submarket with limited new supply. It benefits from a $5 million renovation program with prior ownership in 2014.
Veridian represented the the tenth multifamily project that IMG acquired in the Atlanta metro. IMG has transacted over 3,000 units in Georgia since late 2013 across Lawrenceville, Duluth, Marietta, Sandy Springs, Vinings and Buckhead.