H.I.G. Realty Sells Atlanta Apartments

October 21, 2025

Atlanta Finance & Investment Market Rate News More Southeast

The previous owner acquired the property through a nearly $55 million loan foreclosure.

H.I.G. Realty Partners has sold the Virginia Highlands Apartment Homes, a 270-unit vintage-style apartment community located in Atlanta. A buyer and sale price were not disclosed.

According to Yardi Matrix information, H.I.G. Realty acquired the property in 2023 through foreclosure of a $54.9 million loan that was held by H.I.G. Capital, which had been originally issued to MSC Investment. H.I.G. Capital subsequently retained the property via its subsidiary, H.I.G. Realty Partners.

Newmark Multifamily Capital Markets Senior Managing Director Brooks Colquitt represented the seller in the deal, while Newmark Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Managing Director Nina Russo secured the financing on behalf of the undisclosed buyer.

Completed in 1988, Virginia Highlands offers one- and two-bedroom units averaging 745 square feet, with a mean rent of of $1,838 a month.

Interiors feature kitchens with granite countertops, walk-in closets and private patios. Common-area amenities include an outdoor covered kitchen with grills and TVs, a pool with a sundeck and a car wash station. The property has a total of 342 parking spaces.

Located in the historic Virginia Highland neighborhood northeast of downtown Atlanta, the property counts as transit-oriented, with direct access to Atlanta’s BeltLine and a Walk Score of 89.

Atlanta’s strength attracts investors

According to Newmark Research, the strongest leasing activity in the second quarter of 2025 continued to be in markets like greater Atlanta, despite the surge in development within other parts of the Sun Belt in recent years.

Investors have taken notice. Last month, Greenwood Star Holdings acquired two multifamily communities totaling 377 units in the Atlanta suburb of Doraville, paying a total of $47 million for the two properties.

In September, a joint venture between DBG Properties and GSL Properties paid $110 million for the 360-unit Timberline View in Buford, Ga. A joint venture between Related and Rockpoint sold the community, which was developed in 2023.