A company owned by billionaire Warren Buffett brokered a deal to transfer two garden-style properties in Augusta to a new buyer.
Berkadia, a joint venture involving Berkshire Hathaway and Jefferies Financial Group, put together the deal.
“The seller maintained both properties to a very high standard, which will allow the buyer to execute their business plan efficiently,” said Riley. “This portfolio was very well located and had fantastic curb appeal. It was a pleasure working with both parties.”
Stevens Creek Commons, located at 100 Bon Air Drive, comprises 256 units and was built in 1986. The property features solid brick exteriors on concrete slabs, a low-density site layout, mature landscaping, and a strong amenity package. The unit mix includes 104 one-bedroom units and 152 two-bedroom units. All units include washer and dryer appliances, and many also feature fireplaces.
Marks Church Commons, located at 1700 Bowdoin Drive, comprises 160 units and was built in 1988 and is similar in look and amenities.
The Marks Church property consists of 88 one-bedroom units and 72 two-bedroom units.
