Penler Acquires Eleven 85 Apartments In Atlanta From TerraCap Management For $67 Million

The property asset involved in the transaction is a multifamily complex located at 1185 Collier Road Northwest in Atlanta, GA. The sale was executed for $67,000,000, with a price per unit of $232,639 for the 288 units within the complex, which was built in 2014. The apartments feature rental rates ranging from $1,396 to $2,229 and offer various amenities such as a pool, fitness center, clubhouse, and pet park.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,000,000
• Units: 288
• Buyer: Penler
• Seller: TerraCap Management
• Price Per Unit: $232,639

In this transaction, Penler, through an affiliate, acquired the Eleven 85 Apartments from TerraCap Management, who had previously purchased the property for nearly $91,000,000 three years ago.