ATLANTA – Robert Stickel, Alex Brown and Chris Spain of Cushman & Wakefield represented the sellers, JPX Works, Mariner Group and ELV Associates, in the transaction. Oxford Properties Group acquired the property, which also includes 3,965 square feet of retail space.
“Completing lilli Midtown on its tiny .33-acre site required a huge amount of creativity and hard work from our team, and the cooperation of our city government, county government and Midtown Alliance,” said JPX Founder Jarel Portman. “We’re all tremendously proud of this project and are thrilled to see it land in the capable hands of Oxford Properties Group. They have the forward-looking vision to ensure this unique asset continues to thrive.”
“lilli Midtown embodies a visionary plan from distinguished developers, JPX Works and Mariner Group, directly in the path of growth for Midtown Atlanta,” Stickel said. “The property attracted a broad spectrum of investors, including international capital targeting the Sunbelt region. The buyer chose to enter Atlanta’s multifamily market, compelled by strong fundamentals and future upside.”
lilli Midtown exemplifies brilliant architecture and top-notch finishes that attract an elite demographic at the crosshairs of the prominent Peachtree Street and Ponce De Leon corridors. lilli Midtown offers an unparalleled and luxurious lifestyle with sought-after culture and is anchored by numerous office and retail developments with 11,000 new jobs arriving within three blocks over the next three years.
“lilli Midtown is an exceptional asset that raised the bar for multifamily design,” Brown said. “The boutique nature of this property and striking architecture attracted a high-end resident seeking an intimate living environment. Investors were also drawn to Midtown’s incredible job growth story, which is one of the strongest in the country.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 300 transactions and $7.0 billion in multifamily and land investment sales in 2019 (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https://multifamily.cushwake.com.