facebook
Traded Co logo
Submit
Daily limit: 0/10

Penler Acquires 290-Unit Trace Midtown Apartment Complex In Atlanta From JLB Partners For $94.3M

Property Image
SOLD
$94,300,000

Georgia

See Similar Deals
MultiFamily
Sold 10/02/2025
the dealdetailscomps
Property Image
SOLD

Penler Acquires 290-Unit Trace Midtown Apartment Complex In Atlanta From JLB Partners For $94.3M

782 Peachtree Street Northeast

See Similar Deals
MultiFamily
Sold 10/02/2025
the dealdetailscomps

Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

The multi-family asset involved in this transaction is the Trace Midtown apartment complex located at 782 Peachtree Street Northeast, Atlanta, GA. The 2016-built property consists of 290 units and was sold for $94.3 million, translating to a price per unit of approximately $325,172.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $94,300,000
  • Units: 290
  • Price Per Unit: $325,172
  • Buyer: Penler
  • Seller: JLB Partners

This transaction marks Penler's second recent acquisition in Atlanta, following their previous purchase of the Eleven 85 Apartments for $67 million. The deal exemplifies ongoing interest in the Atlanta multi-family market, showcasing distinct growth in this sector.

Players

P
Penler
BUYER
JP
JLB Partners
SELLER

Details

SOLD
IMAGE: 10/02/2025 ADDRESS: 782 Peachtree Street Northeast MARKET: Atlanta, GA ASSET TYPE: MultiFamily BUYER: Penler SELLER: JLB Partners SALE PRICE: $94,300,000 UNITS: 290 ~ PPU: $325,172 NOTE: Penler acquired the 290-unit Trace Midtown apartment complex in Atlanta for $94.3 million ($325K/unit) from developer JLB Partners. The 2016-built property at 782 Peachtree St. NE features upscale amenities and marks Penler’s second recent Atlanta buy following its $67 million purchase of Eleven 85 Apartments.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,029,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$335,028.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$447,030.11
Annual Debt Service$5,364,361.32