Downtown, Midtown buildings change hands in hot market

730 Midtown

Real estate services firm Cushman & Wakefield has arranged the sale of two substantial properties in Downtown and Midtown.

A joint venture of The Simpson Organization and Harbert Management Corp. has closed the $35.3 million sale of 730 Midtown. David Meline and Samir Idris of Cushman & Wakefield represented the seller, and acquisition financing was arranged led by Mike Ryan and Brian Linnihan. Crestlight Capital acquired the 217,090-square-foot, Class A office building located on Peachtree Street. The 11-story building is 92 percent leased and includes an array of on-site amenities including an outdoor courtyard with Peachtree Street frontage, a 55-seat conference center and on-site property management office.

City Walk

Cushman & Wakefield also arranged the sale of City Walk, an urban mixed-use development located in Downtown. Completed in 2007, the midrise fronts Auburn Avenue at Piedmont Avenue. Mike Kemether, Vice Chair of Cushman & Wakefield’s Multifamily Advisory Group, along with Fain Hicks, Senior Director of Cushman & Wakefield’s Retail Investment Sales team, represented the seller, Los Angeles-based CGI Strategies in the transaction. FPA Multifamily LLC acquired the 144-unit multifamily component, and an Atlanta-based private-partnership acquired the 28,000-square-foot retail portion of the property.

 

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