Hines Pays $237.8M for Buckhead Rental Community

The Hines Global Income Trust is behind the purchase of 99 West Paces, a 312-unit luxury apartment complex in the Buckhead district of Atlanta. The contract purchase price was $237.8 million. JLB Partners was the developer and owner.

99 West Paces is located at 99 W. Paces Ferry Road NW, directly adjacent to Buckhead Village and within walking distance of retail, dining and services, including Whole Foods, St. Regis, Tuxedo Park and Cherokee Town & Country Club. The 13-story building, completed in 2023, is approximately 95% leased.

The property offers one- to three-bedroom residences ranging from approximately 722 to 3,419 square feet. Amenities include a pool, wellness club and fitness center, pet spa, 8 coworking spaces, cafe and a sky lounge.

The acquisition was part of a three-property transaction by Hines Global Income Trust. The Trust also purchased an industrial asset in Columbus, Ohio and an apartment complex in Dallas for a total of $525 million.

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Hines Global Income Trust

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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South and Twenty
Cartersville, GAAtlanta & Southeast + Apartment Buildings
Listing Status: Available
Listing Type: Call for offers
No. of Units: 288
Year Built: 2023
Lot Size: 292860 Acres
Opportunity Zone: No
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On 20th Apartments
Hickory, NCAtlanta & Southeast + Apartment Buildings
Listing Status: Available
Listing Type: Highest & best offer
No. of Units: 415
Year Built: 1991
Building Size: 415375 Sq ft
Lot Size: 33.79 Acres
Opportunity Zone: No
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