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ATLANTA-Gables Residential, a Boca Raton, FL-based nationalapartment operator, has closed on $59.2 million in two area deals.The Florida firm sold a 32-year-old multifamily asset for $26million and bought a high-end apartment community for $33.2million.
Gables paid about $117,647 per unit for the 272-unit GablesDruid Hills in the affluent Buckhead district of Downtown and soldits 603-unit Lakes at Indian Creek in the metro area for $43,118per unit. Gables CEO Chris Wheeler didn't disclose the corporatenames of the seller and the buyer in the two deals.
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