Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the seller, Sierra Development, in the transaction. Northland Investment Corporation acquired the property.
“Lofts at Zebulon offered an opportunity to acquire a true best-in-class asset in a secondary market,” said Bird. “As Macon’s newest upscale apartment community, Lofts at Zebulon represents the ultimate in modern residential construction with high-end finishes and resort-style amenities. As capital continues to cascade into secondary markets from investors looking for higher yield, the institutional quality of the property caught the attention of a best-in-class large national owner/operator looking to enter the Macon market."
Lofts at Zebulon, completed in 2019, is located adjacent to the premier shopping district Plantation Center. Amenities include a bark park, clubhouse, car care center, fitness center, and infinity pool.
The Macon-Warner Robins MSA is supported by major economic drivers like healthcare, education, manufacturing and aerospace with employers such as Geico, Amazon, Navicent Health, Robins Air Force Base, and Tyson.
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.