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| ALARA River Oaks Apartments, Franklin, TN |
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| Jason Nettles |
ATLANTA, GA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of three
southeastern U.S. multi-housing properties totaling 816 units: ALARA North
Point and ALARA Park Bridge in Alpharetta, Georgia, and ALARA River Oaks in
Franklin, Tennessee.
HFF marketed the
properties on behalf of the seller, American Realty Advisors. The assets were sold in three separate
transactions to separate buyers. ALARA
North Point sold to Greystar, ALARA Park Bridge sold to Stockbridge Capital
Group and ALARA River Oaks to TH Real Estate, a division of TIAA Global Asset
Management.
The three, garden-style
assets, which are located in two of the Southeast’s leading submarkets, have an
overall occupancy of 94 percent. ALARA
North Point comprises 264 units and is located at 900 Jameson Pass in the
Atlanta suburb of Alpharetta, approximately 25 miles northeast of downtown.
The 352-unit ALARA Park Bridge is situated 4.3
miles northeast of ALARA North Point at 15000 Parkview Lane. ALARA River Oaks consists of 200 units
situated on a 34.4-acre site at 1000 Champions Circle in Franklin, Tennessee,
to the south of Nashville’s central business district. Each of the properties offer a full amenity
package featuring resort-style swimming pools, grilling areas, fitness centers,
pet parks, expansive clubhouses and business centers.
The HFF investment sales team representing the seller was led by senior managing director Jason Nettles and director Megan Thompson.
“Record-setting job growth, population gains, company relocations and cultural buzz define both the Atlanta and Nashville markets,” said Nettles. “As a result, the properties are well-positioned for long-term asset value preservation due to their strategic location in two of the country’s fastest growing metropolitan areas.”
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| Megan Thompson |
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
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