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Lion Real Estate Picks Up Atlanta Apartments for $51M
Lion Real Estate Group acquired Briarhill Apartments, a 292-unit multifamily community at 1470 Sheridan Rd. N.E. in Atlanta. Built in 1988, the approximately 254,624-square-foot property is on nearly 10 acres of land and is 94% occupied. The Atlanta Business Journal reports Lion paid $51 million for the property. Beacon Real Estate Group.was the seller.
“This acquisition gives us a strong position in the North Druid Hills submarket, where recent new multifamily supply has largely been absorbed, and very little development is planned,” said Lion’s Mory Barak.
The Briarhill Apartments located along Sheridan Road near the Children’s Healthcare of Atlanta Campus, feature 292 multifamily units. The community offers one- and two-bedroom floor plans.
Lion Real Estate has transacted $2.8 billion of real estate since its launch in 2007.
The firm owns in Lawrenceville, Marietta and Norcross.
- ◦Sale/Acquisition
