Greystone Brown Real Estate Advisors Closes Sale of 140-Unit Multifamily Property in Dalton, GA
March 29, 2017
Greystone Brown Real Estate Advisors announced it has closed on the sale of Chalet Valley, a 140-unit apartment community, for $6,115,000. Located in Dalton, GA, the asset was sold by Augsburg Investments, LLC to Dalton Valley, LLC. Taylor Brown, Walter Miller, Chandler Brown, and Bo Brown of Greystone Brown Real Estate Advisors represented the seller in the transaction.
Chalet Valley is a Class B+ garden-style apartment complex offering 1-, 2-, and 3-bedroom apartments as well as a number of amenities including a swimming pool, laundry and large pet park. The buyer plans to invest approximately $10,000 per unit in renovations.
“For multifamily investors, the lack of supply has been very apparent in the Dalton market, so this transaction marks a wonderful opportunity for the buyer,” said Bo Brown, President, Greystone Brown Real Estate Advisors. “Chalet Valley is a solid investment with its unique amenities and proximity to the Appalachian trail and Blue Ridge Mountains.”