Sherman Residential Purchases 230-Unit Skye Suwanee Town Center In Suwanee Georgia For $65M

The property asset involved in the transaction is a multifamily development located at 500 Buford Highway, Suwanee, GA, covering an area of 9 acres. The buyer, Sherman Residential, acquired the asset known as Skye Suwanee Town Center, which comprises 230 units for a total purchase price of $65,000,000, equating to $282,609 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $65,000,000
• Buyer: Sherman Residential
• Seller: Barings
• Number of Units: 230
• Price Per Unit: $282,609
• Market: Suwanee, GA
• Acreage: 9

The deal was represented by Sherman Residential's broker but did not involve direct participation in the transaction by the broker entities themselves. Barings, as the seller, concluded the sale of the multifamily property, adding a significant asset to Sherman Residential's portfolio.