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CushWake Arranges $133M Sale of Sandy Springs Multifamily
Cushman & Wakefield has arranged the sale of Park at Abernathy Square, a 484-unit apartment community located in Sandy Springs, GA. The final sales price was $132.6 million, equating to more than $274,000 per unit.
Mike Kemether, Travis Presnell and James Wilber of Cushman & Wakefield represented the seller, Clark Ventures, in the transaction. The property was acquired by Stockbridge Capital Group.
“Park at Abernathy Square competes well with much newer vintage properties,” said Kemether, executive vice chair at Cushman & Wakefield. “With several new amenities and improvements to the property interiors, Park at Abernathy Square will serve its new owner extremely well, especially given its position in the high barrier to entry Sandy Springs submarket here in Atlanta.”
Built in 1977 and renovated in 2019, the community features units averaging more than 1,100 square feet and is embedded in one of metro Atlanta’s top employment hubs accessible to Buckhead, Roswell and Alpharetta.
- ◦Sale/Acquisition
