Park Place, 1000 Stevens Entry, Peachtree City, GA
PEACHTREE CITY, GA—Croatan Investments and Brightman & Gil REIM have sold Park Place, a 198-unit apartment community in Peachtree City, GA to a private California-based investment group. Nathan Swenson and Josh Goldfarb of Cushman & Wakefield represented the sellers in the transaction.
“Park Place provides a rare opportunity to own in one of metro Atlanta's most exclusive and high-barrier suburbs,” Swenson says. “Peachtree City's affluent demographics, top-tier schools and limited multifamily inventory were very attractive to the buyer for achieving both near and long-term investment objectives.”
Park Place, built in 1988, is in one of Georgia's wealthiest cities, in an area consistently ranked among the top in the country for quality of life and school system excellence. According to its website, the community features a resort-class swimming pool with sundeck; a state-of-the-art fitness center; golf cart charging stations; an outdoor pavilion with grilling stations and fire pits; nature walking trails; and a playground. The property is about a half mile from Peachtree City Scenic Lakes, a fishing and picnic area, and offers access to Peachtree Crossing Shopping Center, Fresh Market, Big Daddy's Oyster Bar & Pub, Chick-fil-A, Walgreens, and Georgia Shrimp Co.
Cushman & Wakefield's Southeast Multifamily Advisory Group is the most active firm in the region. In 2017, the group closed $4.8 billion in sales volume through 268 deals and more than 55,000 units.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
