A Virginia-based real estate firm has purchased a 112-unit apartment complex in Columbia County for $18.4 million.
Cohen Investment Group bought the Highland Hills Apartments (see photo above story), located at 601 Outlook Drive near Wrightsboro Road in Grovetown, from the New York-based Valor Residential Group. Capstone Apartment Partners closed the sale. “We are thrilled to have closed another transaction in the Augusta market to kick off 2022,” says Sean Henry, Capstone’s managing director of its Atlanta office. “Highland Hills presents a phenomenal opportunity for Cohen Investment Group and their investors to capitalize on the heightened rent growth that the Augusta market is currently experiencing.”
Capstone has closed sales in major cities across the U.S., including Denver, Charlotte, and Atlanta. Another local closing was the $5.72 million sale of Fairway Village Apartments in south Augusta in April 2021.
Highland Hills was built in 2019. Apartments include granite countertops, walk-in closets, stainless-steel appliances, and private patios. The complex also has a pool, clubhouse, and fitness center. According to the Highland Hills website, rent for a one-bedroom apartment is $875 a month, while two-bedroom apartments rent for $1,030 a month.