U.S. Castle Lanterra, Stonemark acquire two Atlanta assets for 35.1 mln

U.S. real estate investment firms Castle Lanterra Properties and Stonemark Housing Partners have separately purchased two nearby communities in the Atlanta suburb of Austell, Georgia for a total of 35.1 million.

Both properties are located close to Interstate 20, about 10 miles to the west of downtown Atlanta, and a short distance from the Six Flags Over Georgia theme park.

Castle Lanterra paid $19.7 million to Tudor McLeod Asset Management to buy 300 Riverside, a 220-unit community at 300 Six Flags Drive SW, which was completed in 1987 and renovated in 2017.

In a separate deal, Stonemark Housing also snagged the 266-unit Villas at Riverside, a 25-building gated community at 648 Whisper Trail, from Moneil Investment Group for $15.4 million.