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The 23 Class A properties are located in the Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh, San Antonio and Tampa markets.
The property, located at the northwest quadrant of Powers Ferry and Terrell Mill Roads, will be located within the new master planned 24-acre Marketplace Terrell Mill development.
With a reputation for creating opportunities for the marketplace, Cushman & Wakefield's National Multifamily Advisory Group provides investment advice, transaction execution and market information to owners, investors and developers in the business.
During the period in which PointOne Holdings owned and operated the property, occupancy increased from 90 to 99% and average effective rents increased by 22%, from $747 to $912 per unit per month.
The sale permits Mimms to focus on its remaining core assets of 31 properties, and to place more emphasis on acquiring multi-tenant retail and industrial opportunities throughout Atlanta and the Southeast.
Pollack Shores said the move fits within the firm's broader growth strategy, with Home at the Battery and several other assets recently hitting key benchmarks.