Multifamily

ATLANTA — Steven D. Bell & Co. has purchased Bennington Towers, a 17-story, 236-unit multifamily building in Atlanta, for $35.6 million. The property is located near the intersection of Peachtree and Peachtree Battle roads. The apartments will undergo a $5 million renovation.

CHARLOTTE, N.C. — Chicago-based MCL Companies has broken ground on The Vue, a $143 million, 53-story condominium tower in Charlotte. The tower will feature 1 million square feet and include 409 studio, one-, two- and three-bedroom units, along with penthouses. Amenities include a business center, conference rooms, health club, cyber café and a media room. Dunn Southeast d.b.a. R.J. Griffin Company is the general contractor, and the project architect is St. Louis-based FS Architecture. The Vue will be located at the northwest corner of Fifth and Pine streets and is scheduled for completion in early 2011.

CHESTER AND RICHMOND, VA. — Richmond Heights, Ohio-based Associated Estates Realty Corp. has purchased two multifamily communities in Chester and Richmond, respectively, from The Bogese Companies, for $75 million. River Forest Luxury Apartment Homes is a 240-unit property located in Chester at 5701 Quiet Pine Circle. The Belvedere Apartments is a 296-unit property located in Richmond at 11900 Bellaverde Circle. Both properties feature a business center, 24-hour fitness facility, clubhouse and resort-style swimming pool. River Forest is a part of a 100-acre mixed-use project under development by The Bogese Companies, and The Belvedere is a part of a 30-acre project being developed by Bogese. Drew White of Cushman & Wakefield’s Washington, D.C. office represented the seller in the transaction.