NORTHBROOK, IL—Locally based Atlas Apartment Holdings has acquired a 20-asset multifamily portfolio spanning 5,059 units and five Sunbelt states. The total purchase price was approximately $490 million; previously reported on the first phase of the sale, a $150-million portfolio buy that represented the largest multifamily sale to date in Orlando.

Cushman & Wakefield served as exclusive advisor to Atlas on the transaction, with an equity, debt & structured finance team of John Alascio, Sridhar Vankayala and Alex Lapidus speaking for the buyer. The sellers could not be determined at press time, although industry data have cited Equity Residential as the seller of the Orlando properties. However, EQR does not have holdings in Texas, Georgia, North Carolina or South Carolina, the four other states in which C&W represented Atlas.

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