Ghitis Property Co. Acquires Beltline Apartments for $66M
Miami-based Ghitis Property Co. acquired Ayla on Krog, a 222-unit apartment property on the Atlanta Beltline Eastside Trail in Inman Park. The sales price was reported as approximately $66 million.
Originally developed by Trammell Crow, Ayla on Krog sits on three acres nearby Krog Street Market, a popular food hall with more than 20 restaurants and shops. The multifamily community features more than 20 floor plans, and a suite of amenities that includes a bocce ball court, hammock garden and outdoor pool.
PGIM Real Estate was the seller in the transaction. In addition, JLL arranged a $42-million acquisition loan on behalf of Ghitis through lender MetLife.
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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