Berkadia brokers $27 Million Sale of Mission Galleria Apartments in Cobb County

ATLANTA, GA. – Berkadia Real Estate Advisors, one of the nation’s largest and most active multifamily investment banking and research companies, recently brokered a $27 million sale of the 416-unit Mission Galleria apartment community located at 5000 S. Lincoln Trace Ave. NE in Smyrna, Cobb County, Ga. Andrew Mays and Paul Vetter, senior vice presidents at Berkadia’s Atlanta office, represented the buyer RADCO Investments, LLC on the deal and worked with David Oakley, partner in Berkadia’s Birmingham office, who represented the seller Mission Galleria, LLC. “RADCO recognized in Mission Galleria an excellent value-add opportunity buoyed by the adjacent development of SunTrust Park, and moved expeditiously to get this done,” said Mays. “A deal of this size and complexity would have never come to fruition without the collaboration of our Southeastern offices using their creativity and leveraging existing relationships within the region,” said Brent Long, president of Berkadia at headquarters in Phoenix. Mission Galleria is minutes from shopping and entertainment venues. The apartments are within walking distance and adjacent to SunTrust Park – future home of the Atlanta Braves slated to open in 2017 at an estimated cost of more than $600 million, seating more than 40,000. “Major developments like the Braves’ SunTrust Park in Cobb County bring additional development opportunities creating a domino effect,” Vetter explained. "Buyer and seller were exceptional to deal with and we were excited to bring the two relationships together for a successful transaction – the first of many our Atlanta team will deliver and I'm thrilled to be a part of their positive momentum,” Oakley said Built in 1975 and situated on more than 25 acres, Mission Galleria was 85 percent leased at the time of the sale.