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Apartment Community in Sandy Springs Sells for $106M, or $271K Per Unit
Cushman & Wakefield has arranged the sale of The Carlyle of Sandy Springs, a 389-unit multifamily community located in northern Atlanta. The sales price was $105.6 million, which equates to more than $271,000 per unit.
Mike Kemether, Travis Presnell, and James Wilber of Cushman & Wakefield represented the seller, Spyglass Capital Partners, in the transaction. The property was acquired by WashREIT and represents the company’s third acquisition in the Atlanta area.
Built in 1972, The Carlyle of Sandy Springs is located in an affluent submarket and provides an opportunity for value-add through interior enhancements. Features of the community include floor plans with townhomes averaging 1,300 square feet and more than 9 million square feet of surrounding retail and destination spots. Residents have access to the Chattahoochee River and numerous nature trail systems.
The Sandy Springs submarket is one of metro Atlanta’s largest employment bases and one of the Southeast’s largest technology capitals.
- ◦Sale/Acquisition
