ParkProperty Capital has acquired The Monroe, a 217-unit multifamily property in the Brookwood neighborhood of Atlanta. The final sale price was $91 million, equating to $419,355 per unit.
The sellers were RangeWater and Artemis Real Estate Partners, which were represented by Cushman & Wakefield's Robert Stickel and Alex Brown.
The Monroe is in Brookwood, at the intersection of Atlanta's top Central Business Districts, Midtown, and Buckhead. The property offers walkability to thousands of medical jobs at Piedmont Hospital's 1.5 million-square-foot expansion, while being rooted in a highly desirable 'beachfront' location on the BeltLine and Bobby Jones Golf Course.
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