{"id":1004051423,"date":"2012-07-18T18:19:14","date_gmt":"2012-07-19T02:19:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=57075"},"modified":"2022-12-05T00:12:14","modified_gmt":"2022-12-05T08:12:14","slug":"ara-closes-sale-of-204-unit-old-fourth-ward-apartment-community-lincoln-property-brokers-three-major-atlanta-leases","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ara-closes-sale-of-204-unit-old-fourth-ward-apartment-community-lincoln-property-brokers-three-major-atlanta-leases\/","title":{"rendered":"ARA Closes Sale of 204-Unit Old Fourth Ward Apartment Community; Lincoln Property Brokers Three Major Atlanta Leases"},"content":{"rendered":"<p style=\"text-align: justify\">By Georgiana Mihaila, Associate Editor<\/p>\n<p style=\"text-align: justify\">ARA\u2014a privately held, full-service investment advisory brokerage firm specializing in the multifamily industry\u2014recently announced the sale of its 626 DeKalb 204-unit apartment community.<\/p>\n<p style=\"text-align: justify\">Buyer Mesa Capital Partners, an apartment acquisition and development firm, paid $21 million for the Old Fourth Ward apartment community. Mesa Capital Partners specializes in the creation of world-class multifamily communities and plans to implement a common areas enhancement program to better position the community; in the future, the company <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/626-about.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-57076\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/626-about.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>intends to leverage the community\u2019s location as part of the currently under construction Atlanta Belt Line project\u2014the most comprehensive revitalization effort ever undertaken in the City of Atlanta and among the largest, most wide-ranging urban redevelopment and mobility projects currently underway in the United States.<\/p>\n<p style=\"text-align: justify\">Upon completion, the project will provide a network of public parks, multi-use trails and transit by re-using 22-miles of historic railroad corridors circling downtown and connecting 45 neighborhoods, including The Old Fourth Ward, directly to each other.<\/p>\n<p style=\"text-align: justify\">ARA Atlanta-based principals Sean Henry and John Weber represented an institutional advisor in the $21 million sale. \u00a0According to ARA\u2019s Sean Henry \u201cJeff Tucker \/Mesa Capital Partners capitalized on an opportunity to acquire a quality community well below replacement cost for this construction type in a market that continues to attract renters desiring an in town, pedestrian friendly environment.\u201d<\/p>\n<p style=\"text-align: justify\">In other real estate news, Lincoln Property Company Southeast has brokered three leases totaling 144,357 square feet in Atlanta\u2019s North Fulton office market. Michael Howell and Hunter Henritze, both vice presidents of office leasing for Lincoln Property Company Southeast, represented the landlord, Equity Office, in the transactions. The leases included the following deals: RedPrairie signed a direct lease for 80,314 square feet in Radiant II, located at 3905 Brookside Parkway in Alpharetta; Select Management Resources renewed its lease for 40,347-square-feet at Preston Ridge IV, located at 3440 Preston Ridge Road in Alpharetta; Athena Health expanded its offices at Northwinds Pointe, located at 2550 Northwinds Parkway in Alpharetta, to a total of 23,696square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Georgiana Mihaila, Associate Editor ARA&mdash;a privately held, full-service investment advisory brokerage firm specializing in the multifamily industry&mdash;recently announced the sale of its 626 DeKalb 204-unit apartment community. Buyer Mesa Capital Partners, an apartment acquisition and development firm, paid $21 million for the Old Fourth Ward apartment community. Mesa Capital Partners specializes in the creation [&#8230;]<\/p>\n","protected":false},"author":39,"featured_media":0,"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":[39387,1815],"class_list":["post-1004051423","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ARA Closes Sale of 204-Unit Old Fourth Ward Apartment Community; Lincoln Property Brokers Three Major Atlanta Leases - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ara-closes-sale-of-204-unit-old-fourth-ward-apartment-community-lincoln-property-brokers-three-major-atlanta-leases\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARA Closes Sale of 204-Unit Old Fourth Ward Apartment Community; Lincoln Property Brokers Three Major Atlanta Leases\" \/>\n<meta property=\"og:description\" content=\"By Georgiana Mihaila, Associate Editor ARA&mdash;a privately held, full-service investment advisory brokerage firm specializing in the multifamily industry&mdash;recently announced the sale of its 626 DeKalb 204-unit apartment community. 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Mesa Capital Partners specializes in the creation [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ara-closes-sale-of-204-unit-old-fourth-ward-apartment-community-lincoln-property-brokers-three-major-atlanta-leases\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-19T02:19:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T08:12:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/626-about.jpg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ara-closes-sale-of-204-unit-old-fourth-ward-apartment-community-lincoln-property-brokers-three-major-atlanta-leases\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ara-closes-sale-of-204-unit-old-fourth-ward-apartment-community-lincoln-property-brokers-three-major-atlanta-leases\\\/\"},\"author\":{\"name\":\"Amalia Otet\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"headline\":\"ARA Closes Sale of 204-Unit Old Fourth Ward Apartment Community; 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