Inventory Intel
The Modera Old Ivy in Buckhead is expecting its first move-ins early next month.
According to local tax records, the communities were purchased for about $133 million in 2018.
The 55-plus rental community is budgeted at $35 million and is backed by Grammy award-winning Christian musician Lecrae Moore.
Financial terms of the transaction were not disclosed, but Gwinnett County records show that the asset was last purchased for $101 million on April 26
The Sonesta Extended Stay Suites was purchased as part of a nine-property portfolio of hotels slated for conversion by a Utah developer.
The new owner plans to make numerous capital improvements to the 182-unit, garden-apartment community.
Middleburg Communities spent $10 million bringing an abandoned apartment community back to life in South Fulton.
Financial terms of the transaction were not disclosed, but the buyer used a $48 million bridge loan in support of the acquisition.
The Corwyn is a new class-A multifamily brand being rolled out by the Atlanta developer, which broke ground on the Corwyn at Conyers in January.
The new build-to-rent neighborhood, University Commons, features two-story detached homes with three bedrooms and three baths in each residence.
The popular Beltline community from The Providence Group will add another 72 condominiums to the Atlanta real estate market with units priced from $619,900 to $729,900.
Financial details of the transaction were not disclosed, but the property was purchased for $24.8 million in 2017 and was appraised at $43 million for the 2022 tax year.
Atlanta’s JAMCO Properties sold the collection of 12 communities, which were held for an average of 14 years, to an undisclosed buyer.
The Maryland firm has been acquiring Atlanta multifamily real estate since 2015.
The new phase will also add a four-story mass timber-loft office building to the mixed-use Atlanta real estate development.
The Midtown Development Review Committee recommended numerous design changes for the project, which will include a 37-story, 465-unit residential tower.