Westside Capital Group Acquires Atlanta Tower for $136M
Cushman & Wakefield arranged the deal on behalf of the seller.
Real estate investment holding firm Westside Capital Group has acquired The Lofts at Twenty25, situated in the Buckhead neighborhood of Atlanta, for $136 million. The acquisition marks Westside’s initial foray into the Atlanta market. Cushman & Wakefield arranged the sale on behalf of Varden Capital Properties.
Originally built in 1951 and entirely redeveloped as a new building last year, The Lofts at Twenty25 is a landmark, 16-story, 623-unit apartment tower catering to renters desiring high-end living experiences. The address places the property at the confluence of the city’s top two business districts and residential enclaves, Buckhead and Midtown.
Situated at 2025 Peachtree Road, the apartment community features one-bedroom apartments that extend in size from 430 to 600 square feet.
Residential interiors offer wood-style plank flooring, stainless-steel appliances, track and pendant lighting, barn-style doors and walk-in closets. Among the common-area amenities are office and conference rooms.
The Lofts at Twenty25 is located near a number of residential neighborhoods featuring houses valued at $1 million and higher. It is also immediately adjacent to the Peachtree Road medical corridor, which supports approximately 7,000 health care employment positions and encompasses 3.6 million square feet of medical space.
The Bobby Jones Golf Course is located directly next to the property. A variety of shopping and dining options also stand nearby and within easy walking distance. They include national brands like Fresh Market, Starbucks, CVS, Panera, Houston’s, Benihana and Chick-Fil-A., as well as a number of local brands.
Westside owns about $1.2 billion of multifamily and mixed-use assets, as well as land, in three Southeastern U.S. states. Having recently acquired properties in both Alabama and Georgia, it is rapidly expanding outside its home state of Florida. The company also has a development pipeline of $3 billion in multifamily and mixed-use assets on developable land it owns, primarily in the Sunshine State. According to Yardi Matrix’s Atlanta’s Multifamily Report, the metro reached its highest level in at least a decade last year.