Cushman & Wakefield (NYSE: CWK) announced that the commercial real estate services company has arranged the sale of Park at Abernathy Square, a 484-unit apartment community located in Sandy Springs, Georgia. The final sale price was $132.6 million, or more than $274,000 per unit.
Mike Kemether, Travis Presnell and James Wilber of Cushman & Wakefield represented the seller, Clark Ventures, in the transaction. The property was acquired by Stockbridge Capital Group, a private equity property firm.
“Park at Abernathy Square competes well with much newer properties,” said Kemether, executive vice president of Cushman & Wakefield. “With several new amenities and upgrades to the interior of the property, Park at Abernathy Square will serve its new owner well, especially given its position in the high barrier submarket to Sandy Springs entry here in Atlanta.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is an 82-person investment sales team spanning 11 states with the leading multifamily market share in that region based on sales volume and transactions reported to CoStar. For more information about the Sunbelt Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services company that delivers exceptional value to property occupiers and owners. Cushman & Wakefield is one of the largest real estate services companies with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the company had revenue of $7.8 billion in core services of property, facilities and project management, leasing, capital markets, assessment and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.