352-Unit Apartment Community Sells for $85,228 Per Unit

Cushman & Wakefield has arranged the $30 million sale of The Parc at 1875, a 352-unit apartment community located in Atlanta. Tyler Averitt and Nathan Swenson represented the sellers, Sage Equities and M. Banks Realty Partners, in the transaction. Two Waters Capital Management acquired the property.

“After selling the asset to our client in 2015, we witnessed a transformation of the property that resulted in record pricing for the submarket,” Averitt said. “The new owner is primed for continued long term growth through the completion of the proven value-add initiative.”

Built in 1988, The Parc at 1875 is strategically situated just south of Hartsfield-Jackson International Airport, this asset benefits from numerous employment drivers in the rapidly expanding Atlanta aerotropolis district. Amenities include a car care center, fitness center, pet walk and care stations, a playground, sports court and swimming pool.

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 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 that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.