Sandtown Vista is a Class B+ institutional quality asset completed in 2010, and is strategically situated in Southwest Fulton County’s sought-after and affluent Sandtown Overlay District. Located just four miles west of Interstate 285 and south of I-20, Sandtown Vista residents enjoy direct access to Downtown Atlanta, Hartsfield Jackson International Airport, the thriving Douglas County area to the west and connections to other Atlanta attractions. The community offers one, two and three bedroom apartment homes with gated access, 9’ ceilings with crown molding, washer and dryer connections in unit, private patio/balcony, breakfast bar and ceramic tile entry. On the exterior, residents enjoy a business center, spin studio, swimming pool with water feature, picnic areas, playground, dog park, covered car care center, Wi-fi in all amenity areas and sprinkled buildings.
Cohen-Esrey acquired Sandtown in fourth quarter 2016. The proposed upgrades to the units are new backsplashes, new painting, new light fixtures, and an updated look and feel to the units. On the exterior, a new resort style grill and cabana area to expand the pool along with updated landscaping and additional amenities will add to the upgraded feel of Sandtown Vista.
The Sandtown renovations successfully lifted rents. A combination of submarket growth, opportunity for additional value-add, and the relatively newer vintage drove buyer interest. On April 26, 2021, Sandtown was sold, resulting in a 26.98% IRR for Fund XXIII investors which exceeded the initial IRR projection of 23.69%.