ATLANTA-Crescent Heights Development paid Wood Partners $39 million or $125,806 per unit for the Legacy, a three-building, 310-unit apartment complex on Peachtree Street in booming Midtown. The buyer plans to convert all the units into for-sale lofts and condos and rename the property, Cornerstone Village. The units are 700 sf to 1,700 sf and are selling for about $110,000 to $220,000.

The asset also has about 17,000 sf of retail. It is near the renovated Biltmore Hotel, now housing offices, a BellSouth office building and the new Federal Reserve building, both under construction.

Wood Partners was formed in 1998 by former Trammell Crow principals Leonard Wood, Jerry Durkin and James Simpson. The Legacy was Wood Partners’ first project.

The Legacy’s three structures on 3.8 acres comprise the Manor, a 40-unit renovated hotel; the Landmark next door with 115 loft apartments; and the Gallery behind the other two buildings with 155 units.

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