Lion Real Estate Group acquired Briarhill Apartments, a 292-unit multifamily community at 1470 Sheridan Rd. N.E. in Atlanta. Built in 1988, the approximately 254,624-square-foot property is on nearly 10 acres of land and is 94% occupied. The Atlanta Business Journal reports Lion paid $51 million for the property. Beacon Real Estate Group.was the seller.
“This acquisition gives us a strong position in the North Druid Hills submarket, where recent new multifamily supply has largely been absorbed, and very little development is planned,” said Lion’s Mory Barak.
The Briarhill Apartments located along Sheridan Road near the Children’s Healthcare of Atlanta Campus, feature 292 multifamily units. The community offers one- and two-bedroom floor plans.
Lion Real Estate has transacted $2.8 billion of real estate since its launch in 2007.
The firm owns in Lawrenceville, Marietta and Norcross.
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
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Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
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