Brand Properties Sells Atlanta Portfolio for $133M
Blaze Partners acquired the two recently built communities, which comprise more than 600 luxury units in two of the metro’s booming submarkets.
Brand Properties has sold two newly developed multifamily assets in Atlanta to Blaze Partners for $133 million. The luxury communities, totaling 608 units, both opened their doors earlier this year, according to Yardi Matrix.
Walker & Dunlop closed the sale on behalf of the seller and secured acquisition financing for Blaze.
Located at 4501 Circle 75 Parkway in the city’s Cumberland submarket, the 309-unit aptly named Stadium Walk is positioned less than 1 mile from SunTrust Park and The Battery Atlanta, a recently completed $2 billion mixed-use destination. The community includes a mix of one- to three-bedroom units, with floorplans ranging from 651 to 1,460 square feet.
Earlier in October, Cortland Partners picked up a 531-unit portfolio a mile to the south.
The second community in the portfolio, the 299-unit Overlook at Huntcrest, is at 1455 Satellite Blvd. in Suwanee, Ga. Situated along Interstate 85, the property is within 30 miles of downtown Atlanta. The garden-style asset features one- to three-bedroom apartments between 675 and 1,380 square feet.
Both assets include swimming pools, fitness centers and clubhouses, with Stadium Walk additionally offering a number of EV charging stations.
The Walker & Dunlop team representing the seller included Kris Mikkelsen and Chris Goldsmith. The firm’s Stephen West, Matthew Wallach and Justin Nelson secured the financing for the buyer.
Image courtesy of Walker & Dunlop