DECATUR, GA. — JLL Capital Markets has brokered the $258 million sale of two five-story, wrap-style apartment communities located in the northeast Atlanta suburb of Decatur. Development and management company HHHunt acquired Abberly Skye for $163 million and Abberly Onyx for $95 million. Northwood Ravin was the seller for both transactions.
The two communities are located on the same block around a newly built shopping center anchored by a Sprouts Farmers Market and across the street from a recently renovated shopping center anchored by a Walmart Supercenter. Both properties are approximately seven miles from Midtown Atlanta.
Abberly Skye was developed in 2020. The community offers 450 studio, one-, two- and three-bedroom units. Individual units include walk-in showers, glass-front kitchen cabinets, quartz countertops in kitchens and bathrooms, stainless steel appliances and balconies with walk-up patio options.
Community amenities at Abberly Skye include a golf simulator, swimming pool, sauna, business center, podcasting room, fitness areas, TV lounge and gaming courtyard.
Abberly Onyx was developed in 2017 and comprises 250 units. The building offers studio, one-, two- and three-bedroom floor plans, as well as community amenities such as a rooftop swimming pool, sauna, climbing gym, two-story outdoor lounge, indoor and outdoor game areas, dog park and hospitality suites for guests.
Units feature kitchens with stainless steel appliances and built-in wine racks, bathrooms with garden bathtubs and glass-front showers, and covered patios and balconies.
JLL represented HHHunt in the transaction, and secured the floating-rate bridge financing on behalf of the new owner. Matthew Lawton, Vic Ciancetta, John Weber, Bill Shippen, Amalia Londono and Nick Brown led the investment sales team that represented HHHunt. Travis Anderson led the debt advisory team that arranged the financing.
The sale of Abberly Skye and Abberly Onyx represents HHHunt’s first acquisition in the Atlanta market. JLL will continue to represent HHHunt as the company seeks to acquire multifamily assets in the Atlanta area, as well as in Nashville, Tennessee and Charlotte, North Carolina.
— Channing Hamilton