Search
 

CushWake Completes 2 Multifamily Sales

ATLANTA-The deals include a bank-owned fractured condo and an apartment complex.

By Carl Cronan | Updated on June 25, 2009

ATLANTA-Cushman & Wakefield says it has completed the sale of two local multifamily properties, including bank-owned fractured condominium building and an apartment complex. Both deals totaled at least $22 million.

Corus Bank sold The Brookhaven high-rise condos, with 193 units built in 1985 and located on three acres at 3833 Peachtree Road, to an investor group named 3833 Peachtree LLC. The sale is the first bank-owned, fractured condo transaction in Atlanta, according to Chris Spain, an executive director with Cushman & Wakefield’s local office.

Cushman & Wakefield did not disclose the sale price at the new owner’s request. But other sources familiar with the transaction cited the price as nearly $15.8 million, or $82,000 per unit.

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.