The firm renovated more than half of the units of the 320-unit community after acquiring it roughly five years ago.
The firm provided a $25.3 million Fannie Mae loan for refinancing on behalf of Patrician LS LLC.
Greystar, the seller, picked up the community back in 2019, for $42 million.
The Spanish company’s total investment in the U.S. multifamily sector adds up to $140 million.
Marcus & Millichap brokered the transaction.
A 300-unit development will be built on a newly acquired site.
The 318-unit project will come online within a 19-acre, mixed-use development in Kennesaw, Ga.
Despite macroeconomic woes, the market is supported by corporate expansions and rising passenger volume.
Gateway markets rebound, regaining top positions in the multifamily sales volume landscape.
The luxury community will serve students of Kennesaw State University.