Cushman & Wakefield has arranged the sale of Juncture, a 560-unit apartment property located in Alpharetta, Georgia. The sale sets a record price for the highest garden-style, suburban sale in metro Atlanta. Chris Spain, Robert Stickel, Travis Presnell and Alex Brown represented the seller in the transaction. Carter-Haston acquired the property.

“The northern suburbs of Atlanta check all of the boxes for many institutional investors, between the great public schools, high-quality employment, population growth and most of all, the high-barriers to new multifamily construction,” Spain said.

Juncture, built in 2016, features granite and quartz countertops, stainless-steel appliances, hand-scraped hardwood flooring, and sweeping high ceilings complete with crown molding. Amenities include a state-of-the-art wellness center, expansive pool and entertainment lounge.

“Many investors are turning to the suburbs as they are seeking higher yields in supplyconstrained submarkets,” Presnell said. “Rent growth in the suburbs has remained higher than the core submarkets in Atlanta due to the lack of new apartment development. Also, investors are looking for pre-stabilized assets such as Juncture to capture higher stabilized yields.”

Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions and sales volume reported to CoStar. In 2017, the group closed $4.8 billion in sales volume (a 34.6 percent year-over-year increase) through 268 deals and more than 55,000 units. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.