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| 2460 Peachtree Tower, Buckhead Neighborhood, Atlanta, GA |
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| Max Peek |
CHICAGO, IL – Waterton Associates LLC, a U.S. real estate
investor and operator, has announced the acquisition of 2460 Peachtree
Apartments, a 236-unit high-rise rental tower in Atlanta’s popular Buckhead
neighborhood.
Formerly known as Bell Peachtree Battle, the
community offers a mix of one- and two-bedroom apartments in a premier location
along Peachtree Road, approximately one mile north of Piedmont Hospital and the
Shepherd Center, two of the state’s top health centers, according to U.S. News
and World Report.
It is the seventh
property acquired by Waterton in 2014, adding to the company’s existing
multifamily portfolio in the Atlanta area, where Waterton owns and manages five
other rental communities totaling more than 1,600 units.
“We are pleased to invest in such a well-located high-rise
asset at a significant discount to current replacement costs,” said Max
Peek, senior vice president, acquisitions, at Waterton Associates.
“We believe the proposed renovation plan will transform the
building and allow us to narrow the gap between us and the newer product
located nearby in Buckhead and Midtown.”
“The building’s amenities are a perfect complement to the
surrounding neighborhood, with popular entertainment destinations like Phipps
Plaza and Lenox Square Mall just a short drive away,” said Peek.
“Residents can
also walk to the nearby Publix Super Market and numerous shops and restaurants
along Peachtree Road.”
Managed by Waterton Residential, Waterton’s wholly owned
property management subsidiary, 2460 Peachtree continues Waterton’s commitment
to excellence in customer service by providing on-site maintenance and 24-hour
concierge services.
For leasing information, call (866) 754-4279 or visit www.2460peachtree.com.
For a complete copy of the company’s news
release, please contact:
Abe Tekippe, atekippe@taylorjohnson.com,
(312) 267-4528
Kim Manning, kmanning@taylorjohnson.com,
(312) 267-4527
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