Three apartment complexes on Riverside Parkway sold for $36.5

Riverside Parkway road sign in article about homicde suicide at EpiCenterRiverside Parkway (photo by Larry Felton Johnson)

Hunters Grove, Kingsley Village and Parkview Apartments on Riverside Parkway, which have often been in the news for tenant complaints about living conditions, and which were in court with over eighty code violations, have been sold.

According to a press release from Greystone Brown Real Estate Advisors, the company that represented the seller, HKP Austell, LLC, the sale price was $36.5 million, with Greystone providing a $30 million bridge loan.

The buyer was not specified in the press release, and we will report further as more information becomes available.

A bridge loan is a temporary loan to bridge the gap between an agreement and the arrangement of permanent financing.

The press release describes the three complexes as follows:

The three garden-style properties are adjacent to one another in the Cobb County town of Austell. Built in 1988, Hunter’s Grove comprises 200 units averaging 952 square feet. Kingsley Village, which was built in 1974, includes 146 units averaging 1,066 square feet, with washer/dryer connections in all two- and three-bedroom floorplans. Parkview Apartments was built in 1971 and features 144 units with floorplans averaging 1,059 square feet. Desirable Cobb County offers convenient access to major state highways, nearby industrial parks, and Six Flags Over Georgia.

The complexes are not within the Austell city limits, but within unincorporated Cobb County near Six Flags Over Georgia.

Background

Tenants have complained of substandard conditions at Hunters Grove, Kingsley Village and Parkview Apartments since at least the fall of 2018, when residents told of rats, water damage, mold, and malfunctioning heating and air units during a renters town hall meeting held in November of that year.

We Thrive in Riverside Renters Association and the Cobb branch of the SCLC held a press conference in front of Parkview Apartments in February of this year to highlight the code citations at the complexes.

Cobb County District 4 Commissioner Lisa Cupid and BOC Chairman Mike Boyce met with residents and attended town hall meetings regarding living conditions at the apartments.

In March, at a magistrate court hearing on the code violations, the owners of the complexes requested a jury trial on the citations, to the frustration of renters who attended the hearing.

This is an ongoing story, and we will provide updates as they become available.

1 Comment on "Three apartment complexes on Riverside Parkway sold for $36.5"

  1. I am Trying to get in touch with Lexington Austell. I Can NOT. Why is this ?? My Name is George Whitley III. I live at 595 Riverside Pkwy SW, Austell, G.a 30168. I am to be Evicted from My Property b/c the Office Does NOT Like Me ! I have Never Not Paid Rent ! I have Never had a Lease Violation. I have Never had a Incident ! They just do NOT LIKE ME!! How Can they Evict Me b/c They do Not Like Me ! They R doing it (03/01/2021). Please, Please Help Me !
    My contact information is
    P# 678 468 9803
    Email :gvalley875@gmail.com

    Thank YOU SO MUCH !! PLEASE GET IN TOUCH WITH SOMEONE WHO CAN
    CHANGE THIS !! I DONT KNOW WHAT TO DO !!!(??)

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