PGIM Real Estate Acquires 290-Unit Notion Decatur From Toll Brothers For $76 Million

The transaction involved a multi-family asset located at 125 North Arcadia Avenue in Decatur, GA. The property, known as Notion Decatur, comprises 290 units and was sold for a transaction amount of $76 million, resulting in a price per unit of $262,069.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $76,000,000
• Address: 125 North Arcadia Avenue
• Market: Decatur, GA
• Units: 290
• Price Per Unit: $262,069
• Buyer: PGIM Real Estate
• Seller: Toll Brothers
• Brokers: Alex Brown, Robert Stickel, Ashlyn Warren, Michael Kay & Sim Patrick - Cushman & Wakefield

PGIM Real Estate acquired the property from Toll Brothers, who is exiting the multifamily sector by selling its Apartment Living division to Kennedy Wilson for over $300 million. The sale was represented by Cushman & Wakefield, highlighting the role of multiple brokers in facilitating this transaction.