ATLANTA — CBRE has arranged the $126.3 million sale of Iris O4W, a newly built apartment community in Atlanta’s Old Fourth Ward neighborhood. Equity Residential purchased the 320-unit property from the developer, Trammell Crow Residential, and equity partner, Diamond Realty Investments. Shea Campbell, Ashish Cholia, Kevin Geiger, Colleen Hendrix and Don Hoffman of CBRE’s Southeast Multifamily team represented the sellers in the transaction.
Located at 652 Angier Ave. NE, Iris O4W is situated steps from the Atlanta BeltLine’s Eastside Trail and features a saltwater pool with a sun ledge, outdoor rooftop lounge with an entertainment bar, outdoor club area with grills and a pizza oven, fitness center, an indoor clubroom with game tables and HDTVs and a pet spa.
Delivered last year, the community comprises studio, one- and two-bedroom apartments averaging 860 square feet in size.