Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Atlanta & Southeast News In Your Inbox

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Atlanta & Southeast  + Apartments  |  August 31, 2020
David Cohen
By: David Cohen

Beacon Real Estate Acquires Gainesville Apartment Property for $53M

Commercial real estate firm Beacon Real Estate Group has acquired 53 West, a 266-unit garden-style apartment community in Gainesville, GA. The sales price was $53.2 million.

Built in 2019, the community is located at 1000 Woodacres Road in the Gainesville/Hall County submarket and is currently 99% occupied. Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller, Varden Capital Properties and Tellus Partners, in the transaction. Additionally, Mitch Sinberg and Scott Wadler of Berkadia arranged the financing on behalf of Beacon through lender Freddie Mac.

“This is an exciting acquisition for us,” said Richard Kulick, managing partner at Beacon. “53 West is a wonderful addition to our portfolio of multifamily assets. Tenant demand has been incredible, as many successful professionals who work in the urban core are relocating to high-quality suburban communities like 53 West. It is also one of the only Class A options within Hall County.”

For comments, questions or concerns, please contact David Cohen

Read More News Stories About: Berkadia
Connect

Inside The Story

Connect With CushWake’s StickelConnect With Beacon’s Kulick

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.
Order Reprints
  • ◦Sale/Acquisition

Apartment buildings for sale

Check out the latest properties available on apartmentbuildings.com

View all apartments
New call-to-action