Built in 1990, Nevadan features one-, two- and three-bedroom units averaging nearly 1,100 square feet. The multifamily community sits within Perimeter Center, one of Atlanta's fastest growing employment submarkets. The asset is close to both Interstate 285 and GA-400, which provide access to employment nodes throughout the city.

What's more, three major hospitals, known collectively as ”Pill Hill,” are five to seven minutes' driving distance from the multifamily property and provide about 15,000 jobs. An added 9,000 jobs are being created within three miles of the property as State Farm and Mercedes-Benz establish new headquarters in Perimeter Center.

With other developers and investors targeting this submarket—and Greater Atlanta and the Southeast in general—should we be concerned about overbuilding rearing its head? Charlie Williams, senior vice president and southeast regional manager of multifamily production at KeyBank Real Estate Capital, tells GlobeSt.com his group remains cautiously concerned of overbuilding.

“There could be a potential supply and demand issue in specific pockets of the region,” Williams says. “However, as the Southeast remains a hub for retiring Baby Boomers from the Northeast and Midwest, there is currently a strong tenant demand driving the multifamily sector. There is also an influx of international interest coming into the region. We are seeing more people from South America and Europe moving into the Southeast, causing a need for continuous development in these areas.”