Patrick Connor of TIAA-CREF's media relations department tells GlobeSt.com the acquisition was completed, but declines to confirm the $45.7 million purchase price or additional details of the deal. "TIAA-CREF does not comment on the terms, prices and other details of its real estate transactions," Connor says.

At $45.7 million, the 251,000-sf acquisition on 2.45 acres at 360 Pharr Rd. equates to $197,835 per unit. Alexan Buckhead was developed by Trammell Crow Residential and Stephen's Property Group LLL of Atlanta. Georgia Construction Co. was the general contractor. The site is one-quarter of a mile from the intersection of Peachtree Road and Piedmont Road.

Besides the residential component, the community has a six-story garage with a capacity for 480 vehicles (378 for residential; 102 for retail). Four parking spaces for every 1,000 sf leased is the retail allotment, while one space per bedroom is the residential basis.