Oak Residential Partners Buys 104-Unit Atlanta Community
- Jun 29, 2020
CWS Capital Partners sold Marquis at Briarcliff, a 104-unit community in the North Druid Hills submarket of Atlanta, to Oak Residential Partners. According to Yardi Matrix data, the 1995-built asset changed hands for $20.9 million and became subject to a $13.6 million Fannie Mae loan.
Located at 1000 Gables Way, Marquis at Briarcliff is within 1 mile of Interstate 85. The surrounding area has several retail and dining options, including Brighten Park Commercial Center. The community is also within a dense medical cluster which includes the CDC headquarters, Emory University Hospital at Wesley Woods and Atlanta VA Medical Center.
Marquis at Briarcliff features four buildings, with one- to three-bedroom units. Common-area amenities include a swimming pool, fitness center, outdoor grilling stations and dog park. Oak Residential Partners intends to implement a capital improvement program at the property that will focus on unit interiors, amenities and landscaping. In addition, the new owner plans to rebrand the community.
JLL Capital Markets assisted the seller in the transaction and also procured the buyer. Recently, the same brokerage company secured $27.5 million in financing for two South Dakota communities.