S&P 500 apartment landlord re-enters Atlanta with $115M trophy-asset purchase

by John Yellig

Skyhouse South. Image courtesy of Equity Residential.

Publicly listed apartment landlord Equity Residential has returned to Atlanta with the $115 million acquisition of Skyhouse South, a 320-unit apartment tower in Midtown.

Equity Residential, a real estate investment trust headquartered in Chicago, said Atlanta fits nicely with its investment strategy, with a diverse economy, a large and expanding population of affluent renters and demographic and socioeconomic characteristics similar to its chosen markets: New York, Boston, Washington, D.C., San Francisco, Los Angeles and Seattle.

The acquisition comes eight years after the company exited the Atlanta area by selling a nine-property portfolio for $356.2 million, Bisnow reported.

Skyhouse South, a 23-story building built in 2014, is located at 100 6th St., near the corner of Juniper Street Southeast. It offers a mix of studios; one-, two- and three-bedroom units; a 24-hour fitness facility; and a rooftop pool and lounge.

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