Commercial Real Estate

A 50-plus-year Augusta property developer just sold one of its apartment complexes after building it four years ago.  ATC Development, headquartered in downtown Augusta, just sold MacArthur Park in the Barton Chapel area in South Augusta. There are 290 units, and currently 264 are leased in the community for a 91% occupancy rate. There are many amenities like a dog park, saltwater pool, business center, and more. The sale price of $40.6 Million reflects a per-unit price of $140,000 at an average of $168 per square foot. An out-of-town buyer

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