ATLANTA—Virginia Highlands, a 270-unit, garden-style multifamily community in Atlanta's historic Virginia Highland district, has traded hands. Fairfield Residential sold the multifamily asset to TA Associates for $41 million.
HFF managing director Jason Nettles and director Megan Thompson led the investment team representing the seller. The multifamily property was sold free and clear of existing debt.
“This property's strong historical performance and its irreplaceable location in one of Atlanta's most walkable locations presented investors a tremendous value-add opportunity,” says Nettles. Virginia Highlands is located at 609 Virginia Avenue with 600 feet of frontage on The Atlanta Beltline.
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