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| Virginia Highlands Apartments, 609 Virginia Avenue Historic Virginia Highland District, Atlanta, GA |
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| Megan Thompson |
ATLANTA, GA – HFF announced today that it closed the sale of
Virginia Highlands, a 270-unit, garden-style multi-housing community in
Atlanta’s historic Virginia Highland district.
HFF marketed the property for Fairfield Residential. TA Associates Realty purchased Virginia
Highlands for $41 million free and clear of existing debt.
Virginia Highlands is located at 609 Virginia Avenue
with 600 feet of frontage on The Atlanta Beltline and in close proximity to
Piedmont Park and the soon-to-open Ponce City Market. Situated on 6.5 acres of land, the property features studio, one-
and two-bedroom units averaging 744 square feet each.
The HFF investment sales team representing the seller was
led by senior managing director Jason Nettles and director Megan
Thompson.
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| Jason Nettles |
“This property’s strong historical performance and its
irreplaceable location in one of Atlanta’s most walkable locations presented
investors a tremendous value-add opportunity,” commented Nettles.
Fairfield Residential (“Fairfield”) is among the most
experienced multi-housing real estate operating companies in the United States. Fairfield employs approximately 1,600 people
in offices strategically located throughout the country. www.fairfieldresidential.com.
Established in 1982, TA Associates Realty ("TA
Realty") is one of the largest and most experienced privately held real
estate advisors in the United States.
TA Realty manages 96 million square feet of commercial real estate and
8,900 residential units located in 35 markets nationwide. www.tarealty.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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