Kaplan Residential Sells ‘Generation Atlanta’ to Frankforter Group for $127M

Generation Atlanta, a 336-unit, 17-story multifamily in downtown Atlanta, has been sold by Kaplan Residential to the Frankforter Group for $126.9 million. According to Kaplan Residential, the deal marks the largest multifamily sale in downtown Atlanta’s history.

Kaplan Residential acquired the approximately 1.8-acre parcel for Generational Atlanta in 2018 for $6.4 million. The project was the first development in the Southeast to feature the Prescient light-gauge steel structural system, which significantly reduced the construction timeline and its associated cost by nearly 25%. The use of the Prescient system enabled the development to partner with the City of Atlanta’s initiative to expand housing options.

“Kaplan Residential and Generation Atlanta’s ability to integrate the city’s affordable housing and innovative environmental conscious strategy, while meeting the needs of the city’s diverse residents, sets the standard for innovative and timely multifamily assets to come,” said A.J. Robinson, president of the Atlanta Downtown Improvement District and Central Atlanta Progress.