Church Street Partners Sells 178-Unit Multifamily Property In Atlanta For $15.25 Million

Transwestern Represents Seller in Disposition of Legacy Century Center Apartments

May 27, 2015, 20:01 ET from Transwestern

ATLANTA, May 27, 2015 /PRNewswire/ -- Transwestern's Southeast Investment Services Group today announces it brokered the disposition of Legacy Century Center for $15.25 million, or $85,674 per unit. The 178-unit, garden-style community is located at 100 Windmont Drive in Brookhaven, Georgia, and totals 149,960 square feet. Transwestern Managing Directors Mike McGaughy and Jon Kleinberg represented the seller, Church Street Partners. The property was acquired by Atlantic Pacific Cos.  

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"The sale of Legacy Century Center was completed at an opportune time," said McGaughy. "The property's recent annexation into Brookhaven and the completion of the Clairmont Road improvement project position it for strong rent growth with the continuation of interior upgrades planned by Atlantic Pacific."

Built in 1990, the institutional-quality, Class A property offers a mix of contemporarily designed one- and two-bedroom units with open kitchens and walk-in closets, along with wood-burning fireplaces and full-size washers and dryers in select floorplans. Upgraded units feature stainless steel kitchen appliances, brushed nickel hardware and faux hardwood flooring. Situated on 6.79 acres, Legacy Century Center offers a competitive community amenities package that includes a pool with grilling area, clubhouse, fitness center, business center and cyber cafe.

The property's infill location in the city of Brookhaven provides exceptional access to Interstates 85 and 285, as well as proximity to major thoroughfare Peachtree Road, which directly connects to North Druid Hills Road and Ashford Dunwoody. Legacy Century Center is situated minutes from Town Brookhaven, Lenox Square, Phipps Plaza and Oglethorpe University.

The transaction represents the third time McGaughy and Kleinberg have successfully brokered the sale of this property, formerly known as Windmont.

ABOUT TRANSWESTERN'S SOUTHEAST INVESTMENT SERVICES GROUP
Transwestern's Southeast Investment Services Group (Southeast ISG) combines capital markets and investment sales expertise, local market knowledge and proven transaction execution to provide strategic disposition services for multifamily, office, retail, industrial and land assets located in Alabama, Georgia, Florida, Mississippi, North Carolina, South Carolina and Tennessee. Based in Atlanta with offices in Miami, Fort Lauderdale and Orlando, Transwestern's Southeast ISG has established a successful track record for maximizing value and creating lasting relationships with clients that range from local entrepreneurs to the largest corporations in the country. 

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.

Media Contact:
Jaime Luckey
404.842.6536
jaime.luckey@transwestern.com

 

SOURCE Transwestern



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