Built in 1984, the multifamily asset sits at 210 Spring Court in Athens. The multifamily property was extensively renovated in 2012. Maple cabinetry, new countertops, and black electric appliances are among the interior upgrades. On-site amenities include the new clubhouse, outdoor pool and a high-quality fitness center.

Like most universities, the University of Georgia can only house a fraction of its enrollment, creating a strategic opportunity for multifamily communities to provide housing options.

Archer North has moderately priced multifamily units and offers access to major employers in Athens. Athens recently scored a major tech company win.

ATLANTA—Archer on North Apartments, a multifamily community minutes away from University of Georgia, has traded hands. Financial terms of the sale were not disclosed.

Archer On North sold the 140-unit multifamily community to QR Capital, a real estate investment company based in Atlanta. CBRE's Brad Simmel exclusively represented the seller in this transaction.

“Archer on North's outstanding location and attractive layouts offers exceptional benefits to the tenants as well as ownership,” Brad Simmel, senior vice President of CBRE's Debt & Structured Finance team. “Currently 98% occupied, the units are leased on an academic year basis from August to July. On schedule to be fully leased in 2017 to 18, provided QR Capital with the advantage of an in-place income at the time of acquisition.”

Cap rates in the low-6% area remain up to 150 basis points higher than the typical first-year returns in gateway cities and will attract out-of-state investors, primarily from New York, California and South Florida, to the Atlanta multifamily market. That's according to Marcus & Millichap's latest report. Even secondary markets are seeing big multifamily investment deals.

Built in 1984, the multifamily asset sits at 210 Spring Court in Athens. The multifamily property was extensively renovated in 2012. Maple cabinetry, new countertops, and black electric appliances are among the interior upgrades. On-site amenities include the new clubhouse, outdoor pool and a high-quality fitness center.

Like most universities, the University of Georgia can only house a fraction of its enrollment, creating a strategic opportunity for multifamily communities to provide housing options.

Archer North has moderately priced multifamily units and offers access to major employers in Athens. Athens recently scored a major tech company win.