Olen Properties Acquires Magnolia At Milton Multifamily In Alpharetta For $179.7M

The multi-family property involved in this transaction is located at 13125 Morris Road in Alpharetta, GA. It was sold for $179,700,000 and comprises 635 units, translating to a price per unit of $282,992. The complex, built in 2001, features a variety of amenities including pools, fitness centers, and tennis courts.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $179,700,000
• Buyer: Olen Properties
• Seller: IMT Residential
• Units: 635
• Price Per Unit: $282,992

Olen Properties Corp. acquired the property, known as Magnolia at Milton, from IMT Residential. The seller had previously purchased the property in 2015 for $104,500,000, indicating a substantial increase in value over the period of ownership.