HFF arranges $136.5 million sale of The Residence Buckhead Atlanta
ATLANTA, GA – August 16, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the $136.5 million sale of The Residence Buckhead Atlanta, a 370-unit, luxury high-rise apartment community situated within the Buckhead Atlanta mixed-use development in Atlanta, Georgia.
HFF marketed the asset exclusively on behalf of the developer, OliverMcMillan, to Simpson Housing® LLLP (Simpson Housing). HFF previously worked on behalf of the developer to arrange construction financing funding the development of Buckhead Atlanta in 2013.
Completed in late 2014, The Residence Buckhead Atlanta (The Residence) is the residential cornerstone of Buckhead Atlanta, OliverMcMillan’s award-winning mixed-use project. Located along East Paces Ferry Road NE in the exclusive Buckhead neighborhood, The Residence encompasses two 20-story towers featuring luxury finishes and unrivaled amenities, including a resort-style pool, manicured courtyard, state-of-the-art fitness center, theatre, study, conference room, demonstration kitchen and concierge service.
Buckhead Atlanta blends sophisticated architectural design, artful storefronts, rich amenities and lush landscaping to comprise the ultimate street scene dynamic in the southeastern United States. The luxury project has 300,000 square feet of upscale, open-air retail and eateries leased to high-end tenants including Hermès, Christian Louboutin, Tom Ford, Jimmy Choo, Warby Parker, Diptyque, Brunello Cucinelli, Flywheel, Doraku Sushi, Gypsy Kitchen, Le Bilboquet, The Southern Gentleman and Shake Shack. Additionally, the project is home to 100,000 square feet of boutique office space serving as the corporate headquarters of Spanx Inc.
The HFF investment sales team representing the seller was led by senior managing directors Jason Nettles and Trey Morsbach and director Megan Thompson.
“This sale highlights the strength of Atlanta’s rental market and its ‘renter-by-choice’ demographic as well as the capabilities of all the parties involved in this transaction,” said Nettles. “OliverMcMillan delivered the premier multi-housing asset in the southeast with this project, and a Simpson Housing joint venture executed flawlessly in adding to their portfolio of best-in-class assets. Bolstered by the strength of the neighboring Shops Buckhead Atlanta, The Residence represents a landmark investment in luxury multi-housing amid a trophy mixed-use environment."
Founded in 1978, OliverMcMillan has earned a reputation as one of the largest and most forward-thinking commercial real estate developers. The award-winning firm creates high-quality, artistic, market-appropriate developments and is recognized by industry leaders for its ability to move forward in a nimble and visionary manner. The firm has designed and developed more than eight million square feet of projects, with a total project value exceeding $3 billion. OliverMcMillan currently has approximately $3 billion in real estate projects under development in cities across the United States, including Houston, San Diego, Honolulu, Atlanta, Dallas, Phoenix, and Nashville. Approaching each project with respect for the surrounding architecture and local culture, the firm works to create vibrant, enduring destinations. For additional information about OliverMcMillan, please visit www.olivermcmillan.com.
About Simpson Housing® LLLP
Headquartered in Denver, Colorado, Simpson Housing® LLLP is an experienced, fully integrated real estate firm providing services in commercial and multifamily property management, development and construction. Simpson Housing and Simpson Property Group®, LP was established for the purpose of building and operating high-quality residential communities in the Southwest. The company has since become one of the largest privately-held residential developers and managers in the nation, operating throughout the United States and continuing to expand. For more information please visit www.simpsonhousing.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.