News
The Longest Flip in History?
February 25, 2015
Associated Estates Realty really must like Northwood Ravin's new Central Perimeter apartment complex because the group has been under agreement for more than a year to buy it. According to AER's latest SEC filing, the group is now expected to close on 1160 Hammond, the 345-unit Class-A apartment complex at Hammond and Peachtree-Dunwoody roads by this quarter for $80.3M. AER's John Shannon blamed “construction delays” for the delay in purchasing 1160 Hammond during a recent investor conference call. We first reported here in 2013 that Northwood Ravin agreed to sell the property just as construction began.
