Lion Real Estate Group acquired Briarhill Apartments, a 292-unit community in North Druid Hills, for an undisclosed amount. 

Located at 1470 Sheridan Rd. NE, Briarhill is within the new “Pill Hill” medical corridor and enveloped by Emory’s Executive Park redevelopment and the Children’s Healthcare of Atlanta campus. It’s the preferred apartment community for CHA staff, Lion noted. 

“A key driver of our acquisition strategy is targeting markets with strong long-term growth,” said Ian Symington, Lion’s vice president and head of acquisitions. “Briarhill is ideally positioned within one of the Southeast’s premier medical and healthcare corridors, with more than 40,000 healthcare professionals employed within a three-mile radius.” 

Briarcliff was built in 1988 and encompasses 254,624 square feet over almost 10 acres. It was 94% occupied at the time of purchase. 

“This acquisition gives us a strong position in the North Druid Hills submarket, where recent new multifamily supply has largely been absorbed and very little development is planned,” Lion Co-CEO and Co-Founder Mory Barak said. “We acquired the asset at a favorable basis relative to replacement cost and at an attractive point in the cycle, as the market continues to recover and rent-growth momentum begins to build.”