The property is 93.4% occupied. Amenities include a resort-style decorator clubhouse, an expansive free-form swimming pool, lighted tennis courts, a scenic walking trail, a park area with green space, a hydro-spa, and boat and RV parking areas.

More investors are looking beyond the core for multifamily opportunities. Sandy Springs, for example, is a popular multifamily market. One reason is because even in large metropolitan areas, suburbs still contain a large share of existing jobs.

In the top 40 metro areas, the Urban Land Institute reports, 84% of all jobs are outside the center-city core. ULI concludes this bodes well for the future of suburbs and predicts the configuration—and reconfiguration—of suburban commercial real estate will play a role in building on the existing employment base.

“More 'suburban downtowns' are densifying, especially if they have a 20-minute transportation link to center-city jobs, Main Street shopping and their own employment generators,” the ULI report reads. “These suburbs exhibit many of the attributes of an 18-hour city,” while less costly than the densest coastal markets. Three out of four Millennials preferred such close-in locations if they considered suburban choices, according to ULI.

ULI offered some working examples of cities outside the core that make attractive investments. San Antonio, Dallas, Houston, San Diego and Phoenix have suburban-dominated job growth, while Denver's growth marginally favors its suburbs. Chicago, meanwhile, is seeing suburban office building vacancies decline.

Andrew Nelson, chief economist at Colliers International, cites significant upside in 18-hour cities such as Atlanta, Austin, Charlotte, Dallas, Denver, Nashville and Seattle because they're poised for superior growth in employment and gross metro product. “There has been much more moderate cap rate compression in these areas than in traditional gateway cities, providing the opportunity for greater yields to those priced out of core markets,” Nelson tells GlobeSt.com. “As the economy has demonstrated stability and interest rates remain near historic lows, investors flushed with cash have shown an increased tolerance for risk, and grown more comfortable in secondary, tertiary and suburban markets.”

ATLANTA—TreePark, a 456-unit multifamily community located in Flowery Branch, GA, has traded hands. The sale price: $58.8 million.

Cushman & Wakefield's Atlanta multifamily team arranged the sale. Brandon Whitesell, Chris Spain, and Alex Brown represented the seller, Atlanta-based Watkins Real Estate Group in the transaction. Toronto-based Venterra Realty acquired the multifamily property.

“TreePark is an outstanding well-maintained, quintessential suburban asset offering a fantastic value-add opportunity in a rapidly expanding area,” says Whitesell. “With no recent deliveries in Hall County, TreePark's top-of-market position presented immediate organic rent growth.”

The 38-acre property, built in 2006, is located northeast of Atlanta in the south Hall County area. That's just east of Lake Lanier along the Interstate 985 corridor.

The property is 93.4% occupied. Amenities include a resort-style decorator clubhouse, an expansive free-form swimming pool, lighted tennis courts, a scenic walking trail, a park area with green space, a hydro-spa, and boat and RV parking areas.

More investors are looking beyond the core for multifamily opportunities. Sandy Springs, for example, is a popular multifamily market. One reason is because even in large metropolitan areas, suburbs still contain a large share of existing jobs.

In the top 40 metro areas, the Urban Land Institute reports, 84% of all jobs are outside the center-city core. ULI concludes this bodes well for the future of suburbs and predicts the configuration—and reconfiguration—of suburban commercial real estate will play a role in building on the existing employment base.

“More 'suburban downtowns' are densifying, especially if they have a 20-minute transportation link to center-city jobs, Main Street shopping and their own employment generators,” the ULI report reads. “These suburbs exhibit many of the attributes of an 18-hour city,” while less costly than the densest coastal markets. Three out of four Millennials preferred such close-in locations if they considered suburban choices, according to ULI.

ULI offered some working examples of cities outside the core that make attractive investments. San Antonio, Dallas, Houston, San Diego and Phoenix have suburban-dominated job growth, while Denver's growth marginally favors its suburbs. Chicago, meanwhile, is seeing suburban office building vacancies decline.

Andrew Nelson, chief economist at Colliers International, cites significant upside in 18-hour cities such as Atlanta, Austin, Charlotte, Dallas, Denver, Nashville and Seattle because they're poised for superior growth in employment and gross metro product. “There has been much more moderate cap rate compression in these areas than in traditional gateway cities, providing the opportunity for greater yields to those priced out of core markets,” Nelson tells GlobeSt.com. “As the economy has demonstrated stability and interest rates remain near historic lows, investors flushed with cash have shown an increased tolerance for risk, and grown more comfortable in secondary, tertiary and suburban markets.”