ATLANTA—American Realty Advisors is disposing of strategic multifamily assets in the Atlanta area. The firm just sold ALARA State Bridge and ALARA Highland Park.
Jones Lang LaSalle's Capital Markets represented American. JLL managing directors David Gutting and Derrick Bloom led the team on this multifamily disposition. Both assets sold within four months of hitting the market.
“ALARA State Bridge provided investors an opportunity to purchase a prime multifamily asset in the most sought-after suburban submarket of Atlanta,” Gutting tells GlobeSt.com. “The limited nearby competition, coupled with strong upside potential drew wide-spread investor interest.”
Built in 1998, ALARA State Bridge is a 224-unit multifamily community located at 10840 State Bridge Road in Johns Creek, GA. It features modern architecture and leading luxury amenities that cater to a family-oriented profile. The area offers some of the state's top-rated schools and proximity to high-tech employment.
ALARA Highland Park, built in 1995, is a 188-unit multifamily projected located at 100 Highland Park Trail in Sandy Springs, GA. The Williamsburg-inspired community is close to the entertainment and nightlife venues of Downtown Roswell, Dunwoody Village, and the Central Perimeter Office submarket that younger professionals seek.
“ALARA Highland Park is flanked by the trendy and revitalized Roswell downtown district and the booming Central Perimeter area,” Bloom tells GlobeSt.com. “Its boutique allure, superior location and competitive amenities made this a desirable investment.”
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