Completed in 2004, AMLI at Milton Park was ahead of its time. The overall Milton Park development utilized its highly landscaped street grid to combine class A apartments, class A office, for-sale residential and a picturesque park with lake into one of Metro Atlanta's most pleasing mixed-use environments. The new owner will look to enhance unit interior details and amenities to keep the property among Alpharetta's leaders.

The multifamily buildings reflect classical architecture inspired by Charleston's “Rainbow Row,” creating the look of dozens of attached urban row homes. The underlying buildings, however, possessed the layouts and modern operational efficiencies of institutional grade garden apartments.

(JLL Income Property Trust just bet $47 million on multifamily asset in Johns Creek. Find out what's going on in this submarket.)

“AMLI at Milton Park is the rare 'perfect 10' apartment investment,” Berry. “AMLI and Northwestern Mutual infused the property with inspired site design and building architecture, then diligently maintained it for 13 years. By 2017, those features combined with significant value-add potential, Alpharetta's demographics and employment characteristics and North Fulton barriers to development made AMLI at Milton Park the ideal buy-and-hold investment for a long-term investor like Olen Properties.”

ATLANTA—AMLI at Milton Park, a multifamily asset in Alpharetta, GA, has traded hands. The financial terms of the deal were not disclosed.

CBRE's Paul Berry, Ashish Cholia, Malcolm McComb and John Whitlow represented the seller, a venture of AMLI Residential and Northwestern Mutual. Renamed Lakeside at Milton Park, the 461-unit mixed-use complex was purchased by Olen Properties.

“Atlanta is experiencing incredible population growth, and added 90,000 people last year,” Berry, who led the sale assignment for CBRE, tells GlobeSt.com. “We also added 85,000 jobs last year, which was the highest among the top U.S markets. With growth rates like this, residential options are a huge factor, and investors recognize the value of these top multifamily assets.”

(An Edge City multifamily asset just traded for $32 million. Get all the details.)

Completed in 2004, AMLI at Milton Park was ahead of its time. The overall Milton Park development utilized its highly landscaped street grid to combine class A apartments, class A office, for-sale residential and a picturesque park with lake into one of Metro Atlanta's most pleasing mixed-use environments. The new owner will look to enhance unit interior details and amenities to keep the property among Alpharetta's leaders.

The multifamily buildings reflect classical architecture inspired by Charleston's “Rainbow Row,” creating the look of dozens of attached urban row homes. The underlying buildings, however, possessed the layouts and modern operational efficiencies of institutional grade garden apartments.

(JLL Income Property Trust just bet $47 million on multifamily asset in Johns Creek. Find out what's going on in this submarket.)

“AMLI at Milton Park is the rare 'perfect 10' apartment investment,” Berry. “AMLI and Northwestern Mutual infused the property with inspired site design and building architecture, then diligently maintained it for 13 years. By 2017, those features combined with significant value-add potential, Alpharetta's demographics and employment characteristics and North Fulton barriers to development made AMLI at Milton Park the ideal buy-and-hold investment for a long-term investor like Olen Properties.”