ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) recently announced that it has been retained to market for sale Conifer Crossing, (photo top right) a 420-unit multifamily community in Norcross, Georgia.Managing director Jason Nettles and associate director Megan Thompson will lead the HFF investment sales team on behalf of the seller, Simpson Housing, LLLP. The property is being listed free and clear of debt for $35,850,000.
Situated on nearly 54 acres, Conifer Crossing is located at 3383 Holcomb Bridge Road, close to Interstate 85, Peachtree Industrial Boulevard and Interstate 285 in Peachtree Corners, approximately 17 miles northeast of Atlanta’s central business district.
Conifer Crossing is immediately proximate to more than 10 million square feet of office space including Technology Park, which is less than two miles from the property and is Atlanta’s response to Silicon Valley. The 98% occupied property has one-, two- and three-bedroom units averaging 1,233 square feet each. Community amenities include a clubhouse, pool, fitness center, playground, laundry facility, sand volleyball court, racquetball court and three lighted tennis courts.
“Conifer Crossing is a great value-add opportunity with proven upside demonstrated by the current owner,” said Nettles. “Minor interior upgrades have resulted in $50 rent premiums with even larger rent premiums demonstrated with the addition of a new appliance package.”
Contacts:
Laurie Fish McDowell
Associate Director HFF
Associate Director HFF
One Post Office Square,
Suite 3500
Boston, MA 02109
tel 617.338.0990
tel 617.338.0990
fax 617.338.2150
Jason Nettles
HFF Managing Director
404 832 8460
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