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Beacon Real Estate Acquires Atlanta Apartment Property for $45M

Miami-based Beacon Real Estate Group and a fund managed by Westport Capital Partners have acquired the recently-built Accent 2050, a 198-unit apartment property in Atlanta. The sales price was reported as $44.5 million.

Located at 2050 Cheshire Bridge Road NE, the property features studio, one- and two-bedroom units with stainless steel appliances, wood plank flooring, energy-efficient LED lighting and quartz or marble countertops. Amenities include a pool, fitness center, coffee bar and bike storage with a repair shop. The property was completed earlier this year by Atlanta-based Westplan Investors.

Robert Stickel and Alex Brown of Cushman & Wakefield brokered the transaction on behalf of the seller, Westplan Investments. The transaction marks Beacon Real Estate Group’s third multifamily acquisition in the Atlanta market since August.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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