Cushman & Wakefield has arranged the sale of Lofts at Zebulon,a 241-unit apartment community located in Macon, Georgia. Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the seller, Sierra Development, in the transaction. Northland Investment Corporationacquired the property.
“Lofts at Zebulon offered an opportunity to acquire a true best-in-class asset in a secondary market,” said Bird. “As Macon’s newest upscale apartment community, Lofts at Zebulon represents the ultimate in modern residential construction with high-end finishes and resort-style amenities. As capital continues to cascade into secondary markets from investors looking for higher yield, the institutional quality of the property caught the attention of a best-in-class large national owner/operator looking to enter the Macon market.”
Lofts at Zebulon,completed in 2019, is located adjacentto the premier shopping district Plantation Center. Amenities include a bark park, clubhouse, car care center, fitness center, and infinity pool.
The Macon-Warner Robins MSA is supportedby major economic drivers like healthcare, education, manufacturing and aerospace with employers such as Geico, Amazon, Navicent Health,Robins Air Force Base, and Tyson.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 300 transactions and $7.0 billion in multifamily and land investment sales in 2019 (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https://multifamily.cushwake.com.
About Northland Investment Corporation
Northland Investment Corporation is a real estate private equity firm with $6 billion of assets under management, including more than 25,000 residential units and 2.1 million square feet of commercial space, and a $3 billion development pipeline. Northland’s core competency is the acquisition, development, long-term ownership, and management of multifamily and mixed-use assets. The firm currently owns and manages properties across the country with significant concentrations in New England, Austin, the Southwestern United States, and Florida. Northland was named to the 2020 National Multifamily Housing Council’s (NMHC) list of Top 50 Largest Apartment Owners, 2020 Multifamily Leaderships’ list of Best Places to Work in Multifamily, and Top 25 Best Places to Work in Multifamily for Women.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
