ATLANTA--(BUSINESS WIRE)--Hanover Perimeter, a new construction, mid-rise community, located in Sandy Springs, was purchased by Black Creek Group. CF Real Estate Services has been awarded management; (CF), headquartered in Atlanta, GA is a leader in the investment, development, and management of multifamily properties across the country.
“Hanover Perimeter is a premier, luxury property that is in line with Black Creek’s strategic approach of expanding our presence in the multifamily sector,” said Chris Westcott, Black Creek Group’s senior vice president, multifamily acquisitions.
Hanover Perimeter is scheduled to undergo a rebrand and the asset will be named Arabelle Perimeter, in February. Located in walkable Sandy Springs, the community is positioned within three nationally recognized hospitals, regional and global offices, as well as retail, and restaurants. Businesses continue to recognize the advantages of the area’s connectivity, which in recent years has resulted in an explosion of economic development and over 7,000 new job announcements. Mercedes-Benz most recently opened the doors to their North American Headquarters, while State Farm continues to build their $1B+ Southeast Regional Headquarters which will eventually employ over 8,000.
“Arabelle Perimeter represents best-in-class architecture in one of Atlanta’s most sought-after neighborhoods. Adding another class-A, luxury community to our portfolio further endorses our approach of growing our presence in expeditious growth markets,” states Kevin Owens, SVP of Operations, CF.
Arabelle Perimeter, built in 2018, comprised of 384 units, offers a mix of one and two bedroom homes ranging from 812 to 1,220 sq ft respectively. Situated within the metro’s largest office submarket, there are 33 million sq ft of office and 11 million sq ft of retail space surrounding the community. Arabelle Perimeter offers granite slab and quartz countertops, chef’s kitchens with stainless appliances, and full-size washer/dryers. The amenities include a private media room, 24-hour fitness center, cyber lounge, outdoor courtyard with pool and sun-shelf, and 17,000 sq ft of ground level retail.
Black Creek Group is an experienced real estate investment manager that has bought or built over $20 billion of investments throughout its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has nine offices across North America with more than 300 professionals. More information is available at blackcreekgroup.com.
CF Real Estate Services (CF) is an award-winning, multifamily real estate company with properties across the Southeast, Mid-Atlantic, Central, and Midwest regions of the United States. With decades of industry experience, the company has evolved into a leading provider of multifamily services that include property management, asset management, and consulting.