Brand Properties Sells Atlanta Portfolio for $133M
- Oct 17, 2018
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