Cushman & Wakefield Arranges Suburban Atlanta Sale
- Aug 26, 2020
Cushman & Wakefield has brokered the sale of The Darby Apartments, a 282-unit luxury community in the Atlanta suburb of Holly Springs, Ga. Robert Stickel, Alex Brown and Mike Kemether negotiated on behalf of the seller, a joint venture between RangeWater Real Estate and NXT Capital. Mount Auburn Multifamily purchased the Class A asset, which delivered earlier this year. According to Yardi Matrix data, Truist Bank financed the project with a $31.7 million loan.
Situated on 21.6 acres at 100 Holly Park Court, The Darby has 10 three- and four-story buildings with one- to three-bedroom apartments averaging 964 square feet. Community amenities include a clubroom, fitness center, pet park and pool deck with private cabanas.
Located 34 miles north of downtown Atlanta, the community is less than 2 miles from the city center on the eastern side of Interstate 575. The Outlet Shoppes of Atlanta is less than 3 miles away, with a number of other shopping and dining options south along Main Street.
In July, a Cushman & Wakefield team assisted The RADCO Cos. in its disposition of a 297-unit community located in Atlanta’s Upper Westside. Quintus paid nearly $50 million for the townhome-style property.