Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Locally based Julian LeCraw & Co. has purchased Lenox Villa, a 178-unit, two-building apartment complex in Buckhead from Los Angeles-based Oakwood Worldwide for $16.1 million. The complex is 90% occupied.

According to Greg Engler, a partner in Chicago-based Moran & Co., LeCraw paid a $1-million prepayment penalty rather than pay off the loan over time, bringing the total price to $17.1 million or approximately $96,000 per unit. Paying off the loan over time was seen as a hindrance to conversion, Engler said in a printed statement. The Alpharetta, GA-based office of Moran represented the seller.

Lenox Villa is a class A complex, constructed in 1989 by Atlanta-based Calibre Properties. Apartments average 997 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.