ATLANTA-660 Apartments, a 301-unit, class AA multi-housingdevelopment in Atlanta’s Old Fourth Ward neighborhood, has sold for$42.75 million. At $142,000 per unit, the transaction representsthe highest price paid for a rental community in Atlanta duringthis cycle.

HFF’s senior marketing director Jason Nettles and director MeganThompson marketed the property on behalf of Southeast CapitalPartners and The Integral Group. AMLI Residential PropertiesTrust purchased 660 Apartments in an all-cash transaction.

“This transaction is a function of Atlanta catching up to thecore markets with regards to institutional interest,” Nettles,tells GlobeSt.com. “This is a bullet-proof core location and theasset quality is pure condo finishes with 10-foot ceilings and allof the bells and whistles. The high quality is reflected in theinterest level from the institutional world.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.