Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged the $29.3 million sale of Barclay at Dunwoody, a 204-unit apartment community located in Dunwoody, Georgia. Mike Kemether, Josh Goldfarb and Travis Presnell of Cushman & Wakefield represented Barclay at Dunwoody, L.L.C., the seller, in the transaction. FPA Multifamily acquired the property.
“Barclay at Dunwoody has the opportunity to be a submarket leader within its comp set, providing residents the security of 100 percent podium parking,” Kemether said. “The high cost to replicate this elevatored, podium construction means that Barclay at Dunwoody will have no notable peers in the immediate submarket for the foreseeable future.”
Barclay at Dunwoody, built in 1990, is located minutes from Perimeter Center, Atlanta’s densest employment base featuring more than 123,000 jobs and 6 million square feet of premier retail.The property is situated in the high barrier-to-entry Dunwoody apartment submarket, characterized by limited land zoned for multifamily and strict code enforcement.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions reported to CoStar. The group has closed $3.4 billion in sales volume in 2017, totaling over 200 deals and more than 40,000 units. On average, the team has experienced 63 percent sales growth within the last five years. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.
FPA Multifamily, LLC is a private equity real estate firm focused on the acquisition, renovation and management of both core plus and work force housing apartment communities. Founded in 1985, FPA has owned over 97,000 apartment units valued at over $10.0 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VI which will acquire approximately $1.8 billion of assets and its core plus focused FPA Core Plus Fund III which will acquire approximately $900 million of assets. Headquartered in San Francisco, FPA also has offices in Irvine, Portland, Denver, Dallas, Minneapolis and Atlanta. For more information please visit www.fpamf.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.