High Street Residential, a Trammell Crow company, has closed on 4 acres at 5005 Perimeter Blvd in Brookhaven. It paid $11.5 million in an all-cash transaction. 

The Atlanta Business Chronicle reports High Street plans to develop around 350 apartments at the corner of Perimeter Center Parkway and Lake Hearn Drive. Rising seven stories, this will be the first set of residences as part of Perimeter Summit. Perimeter Summit already has four office towers and a Hyatt Regency Hotel.

Even though financing has not been secured, High Street plans to break ground in November. High Street is a wholly owned operating subsidiary of Trammell Crow Company (TCC), which specializes in the development of multifamily housing. They say on their website they have a deep background in urban and suburban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities.

Register today for Connect Phoenix Multifamily & Single-Family Build-to-Rent, scheduled for April 18 at the Westin Kierland Resort & Spa, Scottsdale, AZ.