ATLANTA — West Palm Beach, Fla.-based Wexford Real Estate Investors and Boca Raton, Fla.-based Mill Creek Residential Trust have sold Modera Prominence, a 318-unit apartment community in the Buckhead neighborhood of Atlanta, to an affiliate of Dallas-based Lone Star Funds. Alex Brown and Robert Stickel of Cushman & Wakefield arranged the sale. John Harkey and Patrick Chesser of Mill Creek represented the firm on an internal basis.
Built in 2021, Modera Prominence offers studio, one-, two- and three-bedroom floorplans. The property has approximately 319,000 square feet of rentable area with an average unit size of just over 1,000 square feet. Unit features include walk-in closets, hardwood floors and in-unit washer and dryers. The ground-floor retail space totals approximately 21,000 square feet. Community amenities include a pool, fitness center, laundry facilities, elevator, movie theater and onsite maintenance.
Located on 2.8 acres at 3699 Lenox Road NE, the apartment property is situated next to the Atlanta Tech Village and a MARTA station. The property is also located nine miles from downtown Atlanta and 19.6 miles from Hartsfield-Jackson Atlanta International Airport.