Cushman & Wakefield (NYSE: CWK) announced that the commercial real estate services firm has arranged the sale of Park at Abernathy Square, a 484-unit apartment community located in Sandy Springs, Georgia. The final sales price was $132.6 million, equating to 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 real estate firm.
"Park at Abernathy Square competes well with much newer properties,” said Kemether, Executive Vice Chair at Cushman & Wakefield. “With several new amenities and improvements to the property interiors, Park at Abernathy Square will serve its new owner well, especially given its position in the high-barrier-to-entry Sandy Springs submarket here in Atlanta."
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is an 82-person investment sales team covering 11 states with No. 1 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 firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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