Inventory Intel
The properties are in Atlanta, Doraville and Norcross.
The Morgan County planned-unit development is capable of supporting 1,471 single-family units and is located just off I-20.
If approved by the city, the new community would replace 23 wooded acres at the intersection of Kimball Ridge and Buice roads.
The 50-year-old garden apartments were renamed The Halsten at Vinings Mountain.
Stella at Star Metals will offer 331 apartments and 25,000 square feet of ground-floor retail when it is completed.
Financial details of the transaction were not disclosed, but the property was last assessed at $45.8 million.
Crown Bay Group purchased the 1980s-era developments for approximately $24 million in 2019 and sold them for almost $36 million in March.
Prospective homebuyers will have three weekends beginning April 23-24 to tour a variety of model, spec and pre-sold homes.
Financial details of the transaction were not disclosed, but Mesa West Capital provided a $92.5 million bridge-financing loan to the acquirer.
Homebuilders purchased the construction-ready subdivisions with plans to put up 775 badly needed new homes in Dekalb and Gwinnett counties.
The Skyline Apartments community is part of a larger, multi-phase public-private partnership in the Peoplestown area that will ultimately bring 1.8 million square feet of development.
The 280-unit garden-style multifamily development was acquired for an undisclosed amount by Coral Gables, Fla.-based Beacon Real Estate Group.
McKinley Homes is boosting its efforts to sell homes at the 22-story condo tower at 788 West Marietta St.
The acquisition represents the Los Angeles-based investor’s entry into the Atlanta market.
The 100%-affordable development will be known as Madison Reynoldstown and comprise two midrise buildings on a 1.2-acre parcel on the corner of Memorial Drive and Chester Avenue.
Plans for the downtown development call for 320 residences, 85% of which will be designated affordable, plus new space for the church’s Atlanta First Day School, a new fellowship hall and street-level retail.