Rockpoint, Related Offload Atlanta-Area Rental Asset for $110M
GSL Properties and DBG Properties acquired Timberline View, formerly known as Town Laurel Crossing, for $110 million. Commercial Edge reports that Walker and Dunlop issued a $70.4 million acquisition loan and advised on the sale of the 360-unit asset in Buford, GA.
Related and Rockpoint delivered the project in 2023, following the securing of a $55.2 million construction loan from Wells Fargo two years prior.
Timberline View features 14 three- and four-story buildings, each encompassing one- to three-bedroom floor plans that average 1,013 square feet. Community amenities include a clubhouse, coworking space, game lounge, swimming pool and gym, among others. Interstate 85 runs less than 1 mile away, while a shopping center spanning more than 2.1 million square feet is within 2 miles.
Related and Rockpoint’s collaborative efforts date back to 2018, when the duo launched a $2 billion joint venture focused on value-add acquisitions in Florida and throughout the Sun Belt.
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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