"Praedium will rebrand the property and seek to enhance the tenant experience through a modernization of the clubhouse and amenity space," says Kelsey Durels, a Praedium associate.

"The sale was driven by a long-term absolute triple-net lease," says STREAM Capital's Phil DiGennaro. "The private buyer was in a large 1031 exchange and was drawn to the company's headquarters location outside of Pittsburgh.”

The $172 million purchase price reported by Real Capital Analytics ranks the sale as the second largest multifamily transaction in Atlanta metro history.

"It's a carefully calculated risk," Dranoff told GlobeSt.com in 2016. "It's just a bullseye location, you just can't get a better location."

The property, developed in 2013 as a build-to-suit for Endo Pharmaceuticals, has a full-service cafeteria, fitness center, coffee bar, training rooms, and a data center.

“These projects are the result of collaboration among stakeholders that are committed to equitable, inclusive economic development that contributes to improved quality of life for all New Jerseyans,” says NJEDA CEO Tim Sullivan.

The Silverman Group, a family-owned and operated private equity and real estate development organization based in Basking Ridge, NJ, is growing its Atlanta industrial holdings.

The $258 million financing package was negotiated by Shaya Ackerman, left, and senior vice president Shaya Sonnenschein of Meridian.