Madison Vinings Apartments
Property: Madison Vinings Apartments
Purchased: August 11, 2015 for $75,700,000
Property Type: Garden Style Multi-Family Apartment Complex
Total Number of Units: 494 unit
Madison Vinings Ridge Apartments was purchased on August 11th, 2015 for $75,700,000. Madison Vinings Apartments was built between 1977 and 1983. The property features approximately 503,500 rentable square feet on 51 acres. Madison Vinings Apartments consists of 32 residential buildings, 2 garages, a fitness center, office, and two carwashes. The property has an average unit size of 1,019 square feet. Amenities include: a swimming pool, lighted tennis courts, lakeside jogging trail, and 12 picnic areas throughout the property. The apartments at Madison Vinings also feature 2 fishing lakes and lakeside gazebos.
The property is conveniently located in northwest Atlanta. Atlanta is the fifth largest metro-area in the United States and is the home to 16 fortune 500 companies, both of which, provide great employment opportunity for residents. The interchange of Interstate 75 and Interstate 85 is only one-mile away from the property. This provides short and easy commutes for residents to Atlanta’s top employment centers. The Chattahoochee River runs adjacent to the property, providing rare waterfront views and direct private access to the Chattahoochee River National Park. Offering residents their own private oasis of nature without losing the benefits of living in a large metropolitan city.
“We are very excited about the acquisition of Madison Vinings Ridge Apartments. The Vinings submarket of Atlanta is experiencing a renaissance of development activity.” said Mark Tiefel, President of Capital Equity Group. “The Cumberland Community Improvement District (CID) is providing capital for mixed-use projects resulting in over one billion dollars of new development.”