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Lane Picks Up 808 Apartment Units for $89M

ATLANTA-In the largest multifamily deal this year, Goldman Sachs' Whitehall Fund and Korman Communities sold the 412-unit Mt. Vernon Place Apartments and the 396-unit Dunwoody Place Apartments for $110,149 per unit. Both projects are 90% leased.

By Alex Finkelstein | Updated on October 08, 2003

ATLANTA-Lane Co., a locally based, multi-phased apartment development company, has purchased two high-profile multifamily assets totaling 808 units in the prime Perimeter Center of the city for $89 million, or $110,149 per unit.

A joint venture of Goldman Sachs’ Whitehall Fund and Korman Communities sold the 90%-leased properties in a deal that Marcus & Millichap broker John Brown calls “the largest apartment transaction in Atlanta this year.” He says the properties are “irreplaceable real estate.” Brown represented the seller.

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