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Former Darlington Apartments sold for $136 million 

by John Yellig

The Lofts at Twenty25, formerly known as the Darlington Apartments, recently underwent an extensive renovation. Courtesy of Westside Capital Group.

A historic Buckhead apartment building was recently sold to a Miami-based real estate investor for $136 million. 

Courtesy of Google Maps.

Westside Capital Group acquired The Lofts at Twenty25, formerly known as the Darlington Apartments, from Varden Capital Properties, which completed an extensive renovation of the building in 2021. The purchase marks Westside’s entry into the Atlanta market.

The 16-story tower is home to the iconic “Atlanta’s Population Now” sign and sits across from Piedmont Hospital, at 2025 Peachtree Road. The first high-rise in Atlanta after World War II, the building was constructed in 1951 and encompasses 623 one-bedroom apartments, bringing the purchase price to $218,299 per unit. 

Community amenities include a 5,000-square-foot fitness center, swimming pool, movie theater, convenience store and coffee shop. Unit interiors feature 8-foot to 10-foot ceilings, wood-style plank flooring, quartz countertops and stainless-steel appliances. 

Rents range from $945 per month for a 450-square-foot unit to $1,875 for a 600-square-foot one. The asset’s rent rolls are busy, with an average of 68 leases executed per month. 

“We believe in the Atlanta market, and in particular Buckhead and Midtown as urban walkable centers that have become top gateway submarkets with great employment options, various urban amenities and walkability,” Westside founder and President Jakub Hejl said in a press release. “With its prime location among affluent residential neighborhoods, immediate walkability to almost 4 million square feet of medical employment and close proximity to Buckhead Village and Midtown amenities, The Lofts at Twenty25 is a unique multifamily asset that will offer a luxury lifestyle at relatively affordable rents compared to other alternatives in the marketplace.”   
 
Cushman & Wakefield’s Robert Stickel and Alex Brown represented Varden Capital. 

The 16-story tower encompasses 623 one-bedroom apartments. Courtesy of Westside Capital Group.

 

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