Chris Spain and Larry Orr of the Apartment Group, a local division of Cushman & Wakefield Inc., represented M.D. Hodges in its $2.6-million land disposition.
In Gwinnett County, New York City-based Westbrook Partners sold Autumn Village, a 280-unit multifamily asset, for $18.1 million. The buyer, Cincinnati-based Eagle Realty, plans to build a second phase containing approximately 200 units, Walt Knowchel, vice president of the Apartment Group, tells GlobeSt.com.
New amenities will also be added to the development, he says. The cost of development for the new units is approximately $1.5 million.
Also in Gwinnett County, Great Neck, NY-based Sterling Equities has acquired Park Crossing. The 280-unit project was sold by Alexandria, VA-based EEA for $12.9 million, Knowchel tells GlobeSt.com.
In the Vinings section of Atlanta, locally based Vista Realty Partners has purchased 11 acres of land to build a new multifamily property, Knowchel tells GlobeSt.com. Currently, the site is zoned for commercial use, but the developer is in the process of receiving the approvals to construct multifamily units.
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