Black Creek Purchases New Multifamily Community in Atlanta’s Central Perimeter District for $117M

SANDY SPRINGS, GA. — Denver-based Black Creek Group has purchased Hanover Perimeter from developer Hanover Co. for $117 million. The 384-unit multifamily property is located at 1110 Hammond Drive in Sandy Springs, a suburb of Atlanta in the city’s Central Perimeter submarket. The units were 96 percent occupied at the time of sale. Walker & Dunlop’s Pat Jones represented Black Creek in the transaction. Built in 2018, Hanover Place features a fitness center, pool, grilling areas, pet care station and a clubhouse equipped with billiards and a TV lounge. The property has nearby access to restaurants, retail and a Publix grocery store. It is also adjacent to Interstate 285, Ga. Highway 400 and the MARTA Dunwoody Station.