ATLANTA-Affiliates of Inland American Communities Group and Ambling University Development Group have acquired 1.44 acres of land at 930 Spring St. in downtown Atlanta in order to develop a student housing tower there.
The parcel was purchased from a partnership between Seven Oaks Co. and Brookdale Group LLC, according to the Atlanta Business Chronicle. Inland and Ambling plan to build a 20-story 706-bed University House that will feature a total of 268 units at the site.
Daniel Latshaw and John DeYonker of Bull Realty represented the Seven Oaks/Brookdale partnership in the sales transaction.
Ambling University Development, which is based in Valdosta, GA, is currently redeveloping an abandoned hotel on Courtland Street in downtown Atlanta into a mid-rise student housing project and is building an 18-story student housing development nearby. See story in the Atlanta Business Chronicle.