Search
 

NY's Empire Group Buys Sentinel's Apartments

ATLANTA-With a $33.5 million bid, Empire won out over 25 competitors for the 21-year-old, 608-unit, 90%-leased Northridge Lake Apartments in suburban Dunwoody/Sandy Springs.

By Roxanna Guilford-Blake | Updated on November 07, 2001

ATLANTA-New York-based Empire Group outbid 25 competitors with a $33.5 million offer to buy the 21-year-old, 608-unit, 90%-leased Northridge Lake Apartments complex in suburban Dunwoody/Sandy Springs from Sentinel Real Estate Corp., also of New York.

The closing price for the 507,640-sf property equates to $55,099 per unit. Larry Orr of the Apartment Group in Atlanta was marketing the property for five months. Occupancy “had been as high as 98% at the beginning of our marketing campaign,” Orr tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.