{"id":1004050003,"date":"2012-11-12T14:19:14","date_gmt":"2012-11-12T22:19:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=79333"},"modified":"2022-12-05T08:47:06","modified_gmt":"2022-12-05T16:47:06","slug":"admiral-fund-joins-wood-partners-in-buckhead-multifamily-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/admiral-fund-joins-wood-partners-in-buckhead-multifamily-deal\/","title":{"rendered":"Admiral Fund Joins Wood Partners in Buckhead Multifamily Deal"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">A newly formed joint venture between San Antonio-based Admiral Capital Real Estate and Wood Partners of Atlanta recently acquired 209 apartments within The Brookhaven high-rise in Buckhead. \u00a0<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/11\/The-Brookhaven.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-79347 alignright\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/11\/The-Brookhaven.jpg\" alt=\"\" width=\"300\" height=\"231\" \/><\/a><\/p>\n<p style=\"text-align: justify\">The property, a broken condominium project built in 1985, is located on the northern perimeter of Atlanta\u2019s prestigious Buckhead neighborhood at 3833 Peachtree Road\u2014less than two blocks from Buckhead\u2019s center, and three blocks from a MARTA rapid transit station.<\/p>\n<p style=\"text-align: justify\">While The Brookhaven underwent renovation work in 2008, when its interiors were modernized to feature hardwood floors, custom cabinetry and enclosed sunrooms, the new owners have disclosed plans of further improvements on the property; the Wood Partners acquisition team plans to enhance the 17-story building common areas with expanded parking, a state-of-the-art fitness center and a resort-style amenity deck with a water feature, outdoor bar and bocce ball court. This will complement the existing amenities package which includes a heated pool, men\u2019s and women\u2019s saunas and a lighted tennis court.<\/p>\n<p style=\"text-align: justify\">The Brookhaven acquisition represents Admiral Capital Real Estate Fund\u2019s second Atlanta investment, following the September acquisition of a 160,000-square-foot Class A office property in the Central Perimeter submarket in partnership with SDM Partners. This is also the fund\u2019s first investment in the multifamily sector.<\/p>\n<p style=\"text-align: justify\">\u201cWe are very excited to make our second Admiral investment in Atlanta and our first in the multifamily sector,\u201d Admiral Capital Group founder David Robinson said. \u201cThis is consistent with our overall fund approach to identify assets that need capital and repositioning and partner with best-in-class operators like Wood Partners to execute that strategy.\u201d<\/p>\n<p style=\"text-align: justify\">The broker on the acquisition was Jones Lang LaSalle\u2019s Capital Markets, a full-service global provider of capital solutions for real estate investors and occupiers, led by Managing Directors David Gutting and Derrick Bloom.<\/p>\n<p style=\"text-align: justify\"><em>Image via The Brookhaven brochure, courtesy of Jones Lang LaSalle<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A newly formed joint venture between San Antonio-based Admiral Capital Real Estate and Wood Partners of Atlanta recently acquired 209 apartments within The Brookhaven high-rise in Buckhead<\/p>\n","protected":false},"author":39,"featured_media":1004506644,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387],"class_list":["post-1004050003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-latest","tag-atlanta"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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