Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale of Osprey, a 320-unit apartment community located in Atlanta.
Robert Stickel, Alex Brown and Ashlyn Warren of Cushman & Wakefield represented the seller, Toll Brothers Apartment Living, in the transaction. Equity Residential acquired the property.
“Toll Brothers Apartment Living delivered a phenomenal asset,” Stickel said. “They were the first to bring high-rise product to the West Midtown market, which draws from the impressive recent job growth showcasing Atlanta’s technology talent.”
Amenities include a lawn game area and patio lounge, hospitality lounge, dining room, juice bar, pet park and spa, garage, fitness center with on-demand virtual training, pool with private cabanas, rooftop lounge and terrace, and coworking space. The property includes 13,000 square feet of ground-floor retail which is leased to Orangetheory Fitness, Snooze, SweatHouz, and Yalda.
“Equity Residential is a highly recognizable institutional investor who recently decided to re-enter Atlanta’s multifamily market,” Brown said. “This is one of what will surely be more acquisitions as they establish a portfolio in one of the strongest growth markets in the Sunbelt.”
Built in 2020, Osprey offers an urban infill high-rise located in the heart of West Midtown. Osprey is the only multifamily high-rise in Midtown with panoramic views of the Atlanta skyline and has outpaced urban Atlanta’s leasing trends.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects number of 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.