Novo Avondale apartment complex in greater Decatur has new owner
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Greater Decatur, GA — Sterling Group, Inc. has purchased the 374-unit Novo Avondale apartment community in greater Decatur, Ga.
Cushman & Wakefield arranged the sale, according to a press release. The seller was Shelton McNally Real Estate Partners.
The purchase price was not disclosed.
“This is one of the best heavy renovations of an apartment complex that I have seen in my career,” Mike Kemether with Cushman & Wakefield said in the press release. “The previous owner approached the renovation as a new development and successfully delivered a comprehensive property rehab. The new owner will benefit from this overhaul, as Novo Avondale serves as the value option to much newer surrounding apartments.”
The property is located across from the Kensington MARTA station and is less than a mile from downtown Avondale Estates.
According to the press release, “this 1972-vintage property underwent a major overhaul in 2020 which included fully renovated exteriors, upscale interior renovations and enhanced amenities.”
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