Stockbridge, a private equity real estate investment firm with offices in Atlanta, Chicago and San Francisco, has purchased a Sandy Springs apartment development for about $132.6 million, the highest multifamily transaction made in the area in 2021.
Stockbridge closed on Park at Abernathy Square on Dec. 22. Atlanta-based Clark Ventures, represented by Cushman & Wakefield, sold the 484-unit community located at 6925 Roswell Road for $273,967 per unit.
The apartment community is located in an area facing skyrocketing demand for housing, said David Nix, managing director at Stockbridge. It will offer residents an “attractive attainable housing opportunity” with immediate access to surrounding employment and amenity hubs, he said.