The 228,135-sf, 227-unit multifamily apartment complex in DeKalb County was built in 1990. Lincoln paid approximately $69,273 a unit, or about $69 per sf.
Chuck Shallat, operating partner of Lincoln's Atlanta office, tells GlobeSt.com the property is 92% occupied and units rent for an average of $875. "It fits very well within our value-added program," he says.
This is the first sale from a 34-property nationwide portfolio with more than 11,000 units and an aggregate price of $600 million being sold by Archon.
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