Westside Capital Pays $136M for Residential Tower in Atlanta’s Buckhead
Miami, FL-based Westside Capital Group has acquired The Lofts at Twenty25, a 16-story residential tower in Atlanta, GA for $136 million. The purchase is the firm’s first in Atlanta.
Charles Foschini, Chris Apone and Shannon Wilson of Berkadia arranged a 104.5-million acquisition loan on behalf of Westside. Harbor Group International provided the five-year, floating-rate loan, which includes future funding for capital improvements.
The property was built in 1951 and redeveloped in 2021 as a new building with one-bedroom units. It sites at the intersection of Atlanta’s Buckhead and Midtown on Peachtree Road, which encompasses 3.6 million square feet of medical space and supports approximately seven thousand medical jobs, is located immediately adjacent.
Westside owns approximately $1.2 billion of multifamily and mixed-use assets and land in AL, FL and GA. It also has a development pipeline of approximately $3 billion of multifamily and mixed-use assets on developable land it owns, primarily in FL.
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.