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ParkProperty Capital has purchased The Monroe apartments in Atlanta, GA for $91 million.

ParkProperty Capital Secures $91M Atlanta Multifamily without Financing

Cushman & Wakefield has arranged the $91-million ($419,355 per unit ) sale of The Monroe, a 217-unit multifamily property in the Brookwood neighborhood of Atlanta, GA.

Robert Stickel and Alex Brown of Cushman & Wakefield represented the sellers, RangeWater (Atlanta, GA) & Artemis Real Estate Partners (Chevy Chase, MD). The multifamily property was acquired by Atlanta, GA-based ParkProperty Capital.

“ParkProperty Capital recognized the special nature of this BeltLine fronting asset, and their ability to close without financing was a deciding advantage in today’s market,” said Brown. “The Monroe also has continued to attract high-end demographics and presented a unique opportunity to acquire a stabilized core plus asset in desirable Brookwood with long term sustainability and upside.”

The Monroe is at the intersection of Atlanta’s Midtown and Buckhead districts with walkability to thousands of medical jobs at Piedmont Hospital.

Amenities include package receiving services, controlled access garage parking, athletic club, saltwater pool, rooftop lounge and clubhouse with kitchen and coffee bar.


Inside The Story

Cushman & Wakefield's Brown

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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