Saratoga Capital Partners Acquires Generation Atlanta Multifamily For $98.4 Million From Frankforter Group

The asset involved in this transaction is a multifamily property located at 369 Centennial Olympic Park Drive Northwest, in the Atlanta, GA market. The property features 336 units and was sold for $98,400,000, resulting in a price per unit of $292,857.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $98,400,000
• Buyer: Saratoga Capital Partners
• Seller: Yaakov Frankforter - Frankforter Group
• Units: 336
• Price Per Unit: $292,857

Saratoga Capital Partners acquired the Generation Atlanta apartment community through a foreclosure auction, previously purchased by Frankforter Group for $126.9 million in 2021. The transaction followed Frankforter's default on a $104.4 million loan from Arbor Realty Trust, with 66 units of the community being converted to affordable housing through a $4 million Invest Atlanta grant.