Jeff Weller & Mory Barak Of Lion Real Estate Group Acquire Briarhill Apartments For $51M

The 292-unit Briarhill Apartments at 1470 Sheridan Road Northeast in Atlanta, GA, was sold for $51 million. This multifamily asset spans 254,624 square feet and has a price per unit of $174,658 and a price per square foot of $200. The property is 94% occupied and sits on 10 acres.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $51,000,000
• Buyer: Jeff Weller & Mory Barak
• Buyer’s Agency: Lion Real Estate Group
• Seller: Richard Kulick
• Seller’s Agency: Beacon Real Estate Group
• Units: 292
• Square Footage: 254,624
• Price Per Unit: $174,658
• Price Per Square Foot: $200
• Occupancy Rate: 94%
• Location: 1470 Sheridan Road Northeast, Atlanta, GA
• Acres: 10

This transaction marks a significant expansion for Lion Real Estate Group in the North Druid Hills submarket, where they have noted strong demand and limited upcoming multifamily developments. The high absorption of recent new supply in the area further supports their investment strategy.