Community amenities include a pool, clubhouse and dog walk. Courtesy of Optimist Lofts.

The 212-unit Optimist Lofts apartment community at 2115 Piedmont Road NE was acquired by an unnamed buyer. 

Courtesy of Google Maps.

Financial terms of the transaction were not disclosed, but the buyer used a $48 million bridge loan in support of the acquisition, according to commercial mortgage broker Eastern Union, which arranged the financing. 

“Optimist Lofts represents a sound investment opportunity within an economically secure setting,” Eastern Union senior managing director Michael Muller said in a press release. “The property’s upside is underscored by the units’ urban lifestyle feel, its live/work offerings and the on-site retail.” 

Optimist Lofts, which were completed in 2008, are set on 4.44 acres on the eastern edge of Buckhead. The residences include 203 conventional apartments and nine live-work units. The conventional units range from 662 to 1,885 square feet, while the live/work units range from 1,492 to 2,412 square feet. 

The property includes six ground-floor retail spaces totaling 8,026 square feet. Community amenities include a pool, clubhouse and dog walk. 

The new owner plans to make capital improvements to about half of the units, as well as exterior and common-area renovations in order to enhance marketability and extend the asset’s useful life. 

The new owner plans to make capital improvements to about half of the units, as well as exterior and common-area renovations. Courtesy of Optimist Lofts.