Ohio-based real estate investment company Connor Group bought a 350-unit apartment project on the Beltline Eastside Trail in Atlanta from a joint venture between Carlyle Group LP and North American Properties Inc. for $110.2 million, the Atlanta Business Chronicle reported.
The deal is the biggest apartment sale in the city so far in 2019 in terms of per-unit price at $315,000 per unit, the report noted, citing Databank Inc.
The transaction was financed by a loan from Truist Financial Corp.
Apartments are leased from about $1,200 for the affordable units to $4,400 for three-bedroom units, reflecting some of the highest rents in the city, according to the report. The project, called Edge, has a few dozen affordable units.