By Georgiana Mihaila, Associate Editor<\/p>\n
Texas-based apartment giant Camden Property Trust has recently paid $39.3 million for The Paces,. a 30-acre-plus Buckead apartment complex. The price tag is a bit smaller than\u00a0some expected, given that when the\u00a0deal was announced last month, industry observers estimated the property would command between $40 million and $45 million.<\/p>\n
The high-profile site, once targeted for a new Atlanta high school, borders the Cherokee Town & Country Club and upscale homes on Valley Road. In the past year alone, the site has generated interest from more than\u00a0a dozen developers. The aging apartment complex at 77 East Andrews and Roswell Roads is a likely candidate for a major upgrade,\u00a0but Camden has yet to confirm such plans.<\/p>\n
The Barrett Walk apartments in suburban Atlanta have also\u00a0changed hands.\u00a0Pearlmark Real Estate Partners (formerly Transwestern Multifamily Partners) paid $31.7 million for the Kennesaw apartment complex. According to the Atlanta Business Chronicle<\/em>, seller AMLI Residential and its equity partner, Northwestern Mutual Life Insurance Co. developed the 300-unit-plus apartment complex almost 13 years ago.<\/p>\n Located at 2055 Barrett Lakes Blvd. in Kennesaw, the property features community amenities such as controlled-access gates, a tennis court, a swimming pool with garden waterfall, a fitness center and extensive landscaping. AMLI\u2019s sale of Barrett Walk reflects a shift in strategy that focuses on in-town assets.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" By Georgiana Mihaila, Associate Editor
\nTexas-based apartment giant Camden Property Trust has recently paid $39.3 million for The Paces,. a 30-acre-plus Buckead apartment complex. The price tag is a bit smaller than\u00a0some expected, given that when the\u00a0deal was announced last month, […]<\/p>\n","protected":false},"author":33,"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],"tags":[39387],"class_list":["post-1004051489","post","type-post","status-publish","format-standard","hentry","category-atlanta","tag-atlanta"],"acf":[],"yoast_head":"\n