“Aspire Dunwoody really is in the epicenter of economic activity,” Geiger, CBRE vice chairman, tells GlobeSt.com. “The property is in Atlanta's largest employment center with more than 123,000 employees, as well as three major hospitals, public transportation access and top school districts. It also offers unique amenities like an urban vegetable garden and scenic green paths.”

With more than 500 multifamily units, Aspire Dunwoody is contiguous to the MARTA rail line and is in the center of the attractive and prestigious Central Perimeter submarket. As several high-profile corporations, such as State Farm and Mercedes-Benz have recently chosen to locate their offices in Dunwoody and neighboring cities, top multifamily assets are in high demand to accommodate the growth of talent. The popularity of the robust area puts Aspire Dunwoody in the position to experience lease-over-lease gains and organic rent growth.

Before the sale, Lincoln Property Company invested more than $6.3 million toward renovation and capital improvements, including granite countertops, stainless steel appliances and new lighting fixtures. Tennis courts, exterior repairs, fitness and yoga studios and furniture replacements are among other improvements.

ATLANTA—Aspire Dunwoody, a multifamily development in Central Perimeter, has traded hands. Per the CBRE 2017 Investor Intentions Survey, Atlanta is among the top five target markets investors are focusing on in 2017.

Financial terms of the deal were not disclosed, but Dunwoody is a hot multifamily market. Another asset there traded for $72 million just months ago. Nearby Sandy Springs is also turning investors' heads.

CBRE's Kevin Geiger led the transaction, along with his partners Malcolm McComb, Paul Berry and Shea Campbell of the firm's Southeast Multifamily Group. The CBRE group represented the seller, Lincoln Property Company.

Affiliates of Harbor Group International acquired the asset at 7150 Peachtree Dunwoody Road. With the buy, the firm added to its current portfolio in Georgia that includes Preserve at Mill Creek, Avia East Cobb and Avia Riverside.

“Aspire Dunwoody really is in the epicenter of economic activity,” Geiger, CBRE vice chairman, tells GlobeSt.com. “The property is in Atlanta's largest employment center with more than 123,000 employees, as well as three major hospitals, public transportation access and top school districts. It also offers unique amenities like an urban vegetable garden and scenic green paths.”

With more than 500 multifamily units, Aspire Dunwoody is contiguous to the MARTA rail line and is in the center of the attractive and prestigious Central Perimeter submarket. As several high-profile corporations, such as State Farm and Mercedes-Benz have recently chosen to locate their offices in Dunwoody and neighboring cities, top multifamily assets are in high demand to accommodate the growth of talent. The popularity of the robust area puts Aspire Dunwoody in the position to experience lease-over-lease gains and organic rent growth.

Before the sale, Lincoln Property Company invested more than $6.3 million toward renovation and capital improvements, including granite countertops, stainless steel appliances and new lighting fixtures. Tennis courts, exterior repairs, fitness and yoga studios and furniture replacements are among other improvements.