Southern California real estate investor Goldrich Kest recently closed on the purchase of the 14-story Novel Midtown apartment tower in Midtown. 

Located at 1140 Spring St. NW, Novel Midtown comprises 340 studio, one-, two- and three-bedroom apartments. The property was built by Crescent Communities and opened in 2022.  

Financial details of the transaction were not disclosed, but the Atlanta Business Chronicle reported the price tag at $151 million, or about $444,000 per unit. The building is Goldrich Kest’s third Atlanta asset. 

Community amenities include a 3,000-square-foot fitness center, infinity glass-edged swimming pool, top-floor sky deck, outdoor kitchen, private conference rooms and co-working spaces and a dog park. A Land of a Thousand Hills Coffee & Social space is on the ground floor. 

“We are excited to be part of the thriving and dynamic Atlanta metropolitan area and to offer those seeking a luxurious and ultra-convenient lifestyle with the best the city has to offer,” Goldrich Kest Managing Director of Investments Richard Hawthorne said in a press release.