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Grubb Properties Acquires Two Atlanta MF Properties for $48M
Grubb Properties has acquired The George and The Leonard, two apartment properties totaling 217 units along Memorial Drive in Atlanta. The properties include 11,581 square feet of boutique retail, and are integrated with Atlanta’s BeltLine Trail.
Mike Kemether, Robert Stickel and Alex Brown of Cushman & Wakefield represented the sellers, Urban Realty Partners and Case Pomeroy Properties, in the transaction.
“Urban Realty Partners has a deep understanding of Atlanta’s evolving intown submarkets, and were the first to develop on Memorial Drive,” said Brown. “They were able to capitalize on their vision as the submarket grew around them. Grubb Properties saw an opportunity to acquire these two assets and make thoughtful improvements that will boost income while offering rents that are well below new construction.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
