The multifamily properties include: Bella, a 318-unit community built in 1972. Sabra Property Management acquired the property. Center at Peachtree Corners, a 272-unit community built in 1972. Hathaway Development acquired the property. Summit at Dawson, a 162-unit community built in 1983. Zavala Properties acquired the property.

“These properties were our first post-recession acquisitions in Atlanta, and each required a multimillion-dollar investment to renovate and reposition them,” says Christopher Edwards, managing director at Audubon Communities. “After owning them for six years, it was a difficult decision to sell the portfolio, but the timing was right to move on. We're confident the new owners will also have great success with these properties.”

(Only San Francisco and Houston beat Atlanta on this metric.)

The communities in the Northeast Atlanta portfolio are fully-amenitized featuring oversized floor plans. The multifamily properties' locations are poised for significant appreciation as both population and employment growth in the Northeast Corridor are projected to outpace the rest of Metro Atlanta through 2030.

“Located in the path of one of Atlanta's fastest growing job-growth corridors, the Northeast Atlanta portfolio will benefit from this area's strengthening demographics,” says Averitt. “With nearly $30,000 per unit spent on these assets in the past four years, they are not only pristine, they are also well below current replacement cost.”

ATLANTA—A three-property multifamily portfolio located in Northeast Atlanta has traded hands. The sale price: $76.5 million.

Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the multifamily sale. CushWake's Mike Kemether and Tyler Averitt represented the seller, Audubon Communities, in the transaction.

“If one looks closely at how Atlanta is pivoting, he or she will see that Atlanta's Northeast suburban quadrant is poised to outperform the other suburban submarkets over the next five years,” Averitt tells GlobeSt.com. “All three assets are well-positioned to take advantage of these trends.”

(Steadfast just laid down $44 million for an Atlanta multifamily property.)

The multifamily properties include: Bella, a 318-unit community built in 1972. Sabra Property Management acquired the property. Center at Peachtree Corners, a 272-unit community built in 1972. Hathaway Development acquired the property. Summit at Dawson, a 162-unit community built in 1983. Zavala Properties acquired the property.

“These properties were our first post-recession acquisitions in Atlanta, and each required a multimillion-dollar investment to renovate and reposition them,” says Christopher Edwards, managing director at Audubon Communities. “After owning them for six years, it was a difficult decision to sell the portfolio, but the timing was right to move on. We're confident the new owners will also have great success with these properties.”

(Only San Francisco and Houston beat Atlanta on this metric.)

The communities in the Northeast Atlanta portfolio are fully-amenitized featuring oversized floor plans. The multifamily properties' locations are poised for significant appreciation as both population and employment growth in the Northeast Corridor are projected to outpace the rest of Metro Atlanta through 2030.

“Located in the path of one of Atlanta's fastest growing job-growth corridors, the Northeast Atlanta portfolio will benefit from this area's strengthening demographics,” says Averitt. “With nearly $30,000 per unit spent on these assets in the past four years, they are not only pristine, they are also well below current replacement cost.”