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Origin Investments, TA Realty Agree on Reported $80M for Community with Retail in Atlanta
Origin Investments has disposed 675 N Highland, a 164-unit multifamily in the Virginia Highlands submarket of Atlanta, GA. According to published reports, TA Realty purchased the property for $80.3 million.
Robert Stickel and Alex Brown of Cushman & Wakefield represented Origin Investments in the transaction.
Origin Investments acquired 675 N Highland in 2017 as a 125-unit property with 20,000 square feet of ground floor commercial space. Within two years, the company began the addition of 39 units and 8,000 square feet of commercial space.
“The addition of smaller, more affordable units as well as the ground floor commercial space was a strategic initiative ultimately designed to create a unique niche in the market and add considerable value to the asset,” said Aaron Maas, VP of multifamily operations for Origin Investments.
The investment in 675 N Highland generated Origin’s Fund III investors a 15% gross IRR and a 1.96x gross equity multiple over the holding period.
- ◦Sale/Acquisition
