Pacific Urban Investors has bought the 412-unit Mount Vernon Flats at the Perimeter in Atlanta for $102.5 million. The complex will be rebranded The Kinsley at Perimeter Center. Pacific’s entry into the Atlanta market is a continuation of broader portfolio expansion efforts throughout the East Coast which includes communities in the New York Metro, Boston, and Mid-Atlantic markets.
The property is in Perimeter Center, one mile from the 1.5 million-square-foot Perimeter Mall. Built in 1997, Mount Vernon Flats is a three-story garden-style community on 24 acres with a density of 17 units per acre. Its floor plans average 1,101 sq ft.
Pacific Urban’s Patrick Freydberg added, “Pacific would like to thank our counterparty, New York Life Investments, for achieving a very smooth transaction, leveraging our preexisting relationship with Walker Dunlop, the broker”.
Pacific Urban Investors has over $8.5 Billion in assets under management and owns and manages a national portfolio of more than 21,900 units.
The post Pacific Urban Picks 412-Unit Perimeter Project appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
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