ATLANTA-Chicago-based Mesirow Financial has purchased Post Biltmore apartments in Atlanta for $51 million. The 276-unit apartment complex, located at 855 West Peachtree Street, is nearly 97% occupied.
Mesirow paid 185,000 per unit for the multifamily property. Post Properties Inc. completed the property in 2001 and then formed a joint venture with JPMorgan. The building has been renamed as Biltmore at Midtown. Jones Lang LaSalle Inc.'s David Gutting and Derrick Bloom negotiated the deal on behalf of Post Properties and JPMorgan. For the full story, go to Atlanta Business Chronicle .
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