CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield Arranges $53.2M Sale for Varden Capital Properties and Tellus Partners

8/26/2020
Cushman & Wakefield has arranged the $53.2 million sale of 53 West, a 266-unit apartment community located in Atlanta’s Oakwood neighborhood. Robert Stickel, Alex Brown and Tyler Averitt of Cushman & Wakefield represented the sellers, Varden Capital Properties and Tellus Partners, in the transaction. Beacon Real Estate Group acquired the property.

53 West

“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.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS