“Varden Capital Properties and Tellus Partners developed an impressive product that was well-received by residents and investors,” Stickel said. “The property had a strong lease-up with zero concessions completed in nine months. As such, several investors were highly interested in this opportunity, especially with the attractive agency financing available, as well as the continued strong demand for suburban development in Atlanta and throughout the Sunbelt."
Located in Oakwood, a rapidly growing suburb Northeast of Atlanta, and directly proximate to all surrounding economic nodes, 53 West is primed for years of sustained growth. Delivered in 2019, the property features best-in-class interiors and amenities nestled into a private, nature-filled environment.
“Beacon Real Estate Group saw the opportunity to invest in this high-quality Atlanta suburb with a diverse and desirable employment base anchored by logistics and medical jobs,” Brown said. “Hall County has historically been an underserved market and has outpaced the Atlanta MSA’s rent growth since 2015, setting the stage for future upside.”
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). 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.