Cortland Acquires 531-Unit Multifamily Community at The Battery Atlanta for $156M
ATLANTA — Cortland has acquired Home at The Battery Atlanta, a 531-unit multifamily community, from a joint venture between Braves Development Co. (BDC) and Pollack Shores for $156 million. Walker & Dunlop brokered the transaction.
The three-building property — to be renamed Cortland at the Battery Atlanta — offers 328 one-bedroom units, 195 two-bedroom units and eight three-bedroom units. The apartments were 92 percent occupied at the time of sale.
Each building offers a range of shared amenities including swimming pools; a rooftop lounge and bar; an entertainment center with billiards, shuffleboard and an open kitchen; a poolside fitness center with cardio, CrossFit and yoga components; and a cyber café.
The community opened in 2017 as part of The Battery Atlanta, a 1.5 million-square-foot mixed-use development surrounding SunTrust Park, home ballpark of the Atlanta Braves. The master-planned development features residential, retail, office and entertainment space.
“We are pleased to add Cortland to The Battery Atlanta with their strong market leadership,” says Mike Plant, president and CEO of BDC. “This is an exciting next step in our master-planned development process by selling our residential component.”
Cortland, an Atlanta-based multifamily real estate investment firm, owns and manages 140 communities in the United States.