Hines Pays $237.8M for Buckhead Rental Community
The Hines Global Income Trust is behind the purchase of 99 West Paces, a 312-unit luxury apartment complex in the Buckhead district of Atlanta. The contract purchase price was $237.8 million. JLB Partners was the developer and owner.
99 West Paces is located at 99 W. Paces Ferry Road NW, directly adjacent to Buckhead Village and within walking distance of retail, dining and services, including Whole Foods, St. Regis, Tuxedo Park and Cherokee Town & Country Club. The 13-story building, completed in 2023, is approximately 95% leased.
The property offers one- to three-bedroom residences ranging from approximately 722 to 3,419 square feet. Amenities include a pool, wellness club and fitness center, pet spa, 8 coworking spaces, cafe and a sky lounge.
The acquisition was part of a three-property transaction by Hines Global Income Trust. The Trust also purchased an industrial asset in Columbus, Ohio and an apartment complex in Dallas for a total of $525 million.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout