Atlanta, GA-based ECI Group has sold Chatsworth Apartments in the Central Perimeter area in Chamblee, GA for $87 million. Kevin Geiger at CBRE represented ECI Group in the transaction.

The 410-unit, 1980-vintage community was acquired by ECI in 2018 and underwent an extensive common area renovation over the last four years. ECI also renovated building exteriors, replaced roofs throughout the community and renovated amenities including the pool area.

“The Chatsworth sale fits with ECI’s strategy to recycle capital from older assets and exchange into newer assets; in this case invested in our recently announced Verso acquisition in Davenport, FL,” said Jimmy Baugnon, CIO at ECI Group.

Chatsworth Apartments is off North Peachtree Road, surrounded by single-family home neighborhoods and with immediate access to I-285 and the abundance of employment, retail and entertainment options in the Central Perimeter, a magnet for corporate locations and relocations.