DULUTH, GA-In one of the largest multifamily sales transactions in the region so far this year, Atlanta-based Cortland Partners has purchased the Idlewylde apartments here for $63.5 million.
Idlewylde is an 843-unit apartment community that was built in two phases. Cortland will upgrade the first phase to achieve higher rents, and will eventually market the project as two separate apartment developments, according to the Atlanta Business Chronicle.
Joshua Goldfarb and Brett Kingman of Multi Housing Advisors brokered the transaction.
The purchase of Idlewylde follows up Cortland's $34-million purchase of the 510-unit apartment community Watermark in Marietta in early February. See story in the Atlanta Business Chronicle.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
