Two multi-housing communities in the Atlanta-MSA trade for $257.54M
JLL Capital Markets represented the buyer and secured the financing in the acquisitions of Abberly Skye (formerly known as Scott Crossing) and Abberly Onyx (formerly known as Point on Scott)
ATLANTA, Oct. 27, 2022 – JLL Capital Markets announced today that it has closed the $162.54 million acquisition of and the $104.90 million dollar financing for Abberly Skye, as well as the $95.0 million acquisition of and the $61.40 million financing for Abberly Onyx. Both Abberly Skye and Abberly Onyx are five-story, wrap-style apartment communities located within the Atlanta MSA in Decatur, Georgia.
JLL represented the buyer, HHHunt, in these transactions, and secured the floating-rate, bridge loan financing on behalf of the new owner. Northwood Ravin was the seller for both transactions. There were no seller representations, and JLL was the sole intermediary in this transaction.
The 405-unit Abberly Skye (formerly known as Scott Crossing) was developed in 2020, and the 250-unit Abberly Onyx (formerly known as Point on Scott) was developed in 2017. Both properties offer studio, one-, two- and three-bedroom options and feature state-of-the-art community amenities, including, fitness centers, pools, golf simulators, saunas, dog parks, lounge areas outdoor courtyards and more.
Abberly Skye is situated at 2550 Blackmon Dr., and Abberly Onxy is located at 2532 N. Decatur Rd. The properties are both set seven miles from Midtown Atlanta, nine miles from Buckhead and eight miles from downtown Atlanta.
The JLL Capital Markets Investment Sales team that represented the buyer was led by Matthew Lawton, Vic Ciancetta, John Weber, Bill Shippen, Amalia Londono and Nick Brown and the Debt Advisory team that arranged the financing was led by Travis Anderson.
“It has been a pleasure working with the entire HHHunt Team on these unique assignments to redeploy significant capital on a strategic basis, building on the already solid foundation that HHHunt has built over many decades,” said Lawton. “The team truly offers a vertically integrated platform that is best-in-class.”
JLL was exclusively retained by HHHunt this year to represent them on an exclusive buy-side representation for a large capital placement of a 1031 transaction, where they sold a significant asset in the Southeast to strategically redeploy into strong, long-term growth markets in the Sunbelt. There will be a total of five, Class A multi-housing assets acquired in Nashville, Atlanta and Charlotte. HHHunt intends to continue to acquire assets on a strategic basis going forward.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.