News
Quick Flip
October 1, 2013
How fast did Northwood Ravin sell this Central Perimeter complex? Well, it's not even done yet. Associated Estates Realty reports to the SEC that it's signed an agreement to buy a portfolio of apartments from Charlotte-based Northwood. It includes 1160 Hammond Apartments, above, a 345-unit complex inside Ackerman & Co's Perimeter Town Center mixed-use project at the corner of Hammond Drive and Peachtree-Dunwoody Road. Ackerman sold a four-acre parcel to Ravin back in 2011. Estimated completion is Q4. AER is buying seven apartment projects from Ravin (including five in NC and one in Tampa) for $323.9M. The closing of 1160 Hammond is contingent upon finished construction.
