Buckhead’s Crescent Terminus Sold to Berkshire Group Affiliate
- Dec 22, 2014
An affiliate of Boston-based Berkshire Group has recently acquired the 355-unit Crescent Terminus Community, Crescent Communities announced in a news release. The three-building luxury apartment complex is located in Atlanta’s Buckhead neighborhood and it is currently pursuing the ICC-700 National Green Building Standard’s Bronze Level Certification.
Crescent Terminus offers a selection of studio units and one- and two-bedroom apartments on a total of 22 different floor plans. Located on the corner of Piedmont and Peachtree, the pet-friendly and smoke free community features a coffee bar, a tech lounge, outdoor kitchen, a saltwater resort-style pool with aqua sundeck as well as two expansive rooftop terraces with outdoor fireplaces and TV screens. The home interiors are equipped with chef-inspired kitchens with granite countertops, Energy Star certified stainless steel appliances and designer cabinetry; satin nickel hardware, lighting and fixtures; built-in workspaces and walk-in closets.
The transaction is so far the second sale in Crescent’s development portfolio of nine multifamily properties comprising a total of 2,667 units with a total gross purchase price of approximately $700 million. The 367-unit Crescent Bayshore apartment community in downtown Tampa, Florida was purchased by UBS Global Asset Management in October. One of the remaining seven properties that Crescent intends to sell – Crescent Howell Mill – is also located in Atlanta, five are in North Carolina and one is in Orlando, Florida. In addition, the company has around 4,000 units currently under construction and another 5,000 in predevelopment. And since the holidays are just around the corner, check out Crescent’s fun holiday video greeting, filmed in ten markets and five states.
Photo credits: Crescent Communities