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Cortland Acquires 372-Unit Development Site At 415 Armour Drive For $71.3 Million

Property Image
SOLD
$71,300,000

Georgia

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MultiFamily
Sold 04/28/2025
the dealdetailscomps
Property Image
SOLD

Cortland Acquires 372-Unit Development Site At 415 Armour Drive For $71.3 Million

415 Armour Drive Northeast

See Similar Deals
MultiFamily
Sold 04/28/2025
the dealdetailscomps

Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

The asset involved in this transaction is a development site located at 415 Armour Drive Northeast in Atlanta, GA. The site was sold for $71,300,000 and consists of 372 units. The price per unit amounted to $191,667.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $71,300,000
  • Buyer: Cortland
  • Seller: CWS Capital Partners
  • Units: 372
  • Price Per Unit: $191,667

Cortland plans to rebrand the property as Cortland at Armour Yards following the acquisition. The complex will undergo renovations, and the one- and two-bedroom units post-renovation are expected to rent from $1,525 to $7,335.

Players

Cortland
Cortland
BUYER

Details

SOLD
IMAGE: 04/28/2025 ADDRESS: 415 Armour Drive Northeast MARKET: Atlanta, GA ASSET TYPE: Development Site BUYER: Cortland SELLER: CWS Capital Partners SALE PRICE: $71,300,000 UNITS: 372 ~ PPU: $191,667 NOTE: Cortland acquired the 372-unit property at 415 Armour Drive for $71.3 million and will rebrand it as Cortland at Armour Yards. The complex will be renovated, with one- and two-bedroom units renting from $1,525 to $7,335.

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