Clark Ventures paid $69.5 million for a 13-acre multifamily property in Sandy Springs.
The Atlanta Business Chronicle reports the apartment complex was last sold in 2019. Broadtree Real Estate bought it for $69.2 million.
Formerly known as Aspire Perimeter, the property has since been rebranded as Park at the Hill and features 296 apartment units with one-, two- and three-bedroom floor plans.
It’s situated along Peachtree Dunwoody Road inside the Pill Hill neighborhood of Sandy Springs, an area nicknamed for its collection of hospitals and medical offices located just inside the Perimeter adjacent to Dunwoody and Brookhaven.
The property is managed by BH Management Services, along with several other metro Atlanta apartment communities in Clark Ventures’ portfolio.
Clark Ventures is a privately held Atlanta-based firm specializing in the development, acquisition, and operation of upscale rental apartment communities. The company currently owns and operates a 3,700-unit portfolio in the greater Atlanta metropolitan area.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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