Oxford Properties Buys Boutique Atlanta High-Rise
- Feb 25, 2020
Oxford Properties Group has acquired lilli Midtown, a 147-unit boutique high-rise in Atlanta. Cushman & Wakefield represented the seller, a joint venture of JPX Works, Mariner Group and ELV Associates.
According to Yardi Matrix, the developers of the 2018-built property used a $37.7 million loan from NXT Capital to finance the construction of the 24-story community. Featuring one- and two-bedroom apartments as well as 3,965 square feet of retail space, lilli Midtown also includes a swimming pool, a fitness center, a rooftop terrace and electric charging stations. The same data provider shows that the property was 93.2 percent occupied as of January.
Located at 693 Peachtree St. NE in the metro’s Midtown South submarket, the property is within half a mile of Interstate 85 and within walking distance the Georgia Institute of Technology and Emory University Hospital Midtown. Downtown Atlanta is less than a mile from the community.
Cushman & Wakefield’s team included Vice Chairmen Robert Stickel and Chris Spain, along with Managing Director Alex Brown. Recently, Stickel and Brown also worked on behalf of the seller of a recently completed community in Decatur, Ga., located roughly 6 miles east from lilli Midtown.