RESERVE PURCHASE
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It may be better known in Atlanta for office properties, but Behringer Harvard recently acquired a luxury apartment community in its bid to deepen its multifamily holdings in the metro area. This is The Reserve at LaVista Walk, a 283-unit, mixed-use property on LaVista Road off of Cheshire Bridge Road. Cost: $40.4M from Atlantic Realty Partners, according to Databank. Behringer Harvard's Jason Mattox tells us that the ?underpinnings? for the multifamily industry are strong and positive in Atlanta, including demographics favorable to apartment living. And while known for its office holdings such as Resurgens Plaza in Buckhead and Ashford Perimeter, The Reserve at LaVista Walk marks the company's third foray into Atlanta multifamily, including Mariposa Loft Apartments at Inman Park and The Reserve at Johns Creek Walk. ?It's still an attractive market to us. And we will look to continue to make acquisitions there,? Jason says. |
