Cushman & Wakefield Arranges $105M Sale of Multifamily Community in Atlanta

ATLANTA--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) announced that the commercial real estate services firm has arranged the sale of The Carlyle of Sandy Springs, a 389-unit multifamily community located in northern Atlanta. The sales price was $105.6 million.

Mike Kemether, Travis Presnell, and James Wilber of Cushman & Wakefield represented the seller, Spyglass Capital Partners, in the transaction. The property was acquired by WashREIT.

"With some of the largest apartment units in the submarket and with an abundance of sought-after townhomes at the property, WashREIT plans to continue with unit upgrades and adding value for middle-income renters,” said Kemether, Executive Vice Chair at Cushman & Wakefield. “The DC-based owner is well positioned with their entry into the Sandy Springs submarket as they continue expanding in the Southeast with their third acquisition in the Atlanta area.”

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is an 82-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2021, the group closed $13.8 billion in sales volume through 429 deals and nearly 85,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.