REBusinessOnline

PRP Sells Perimeter 31 Apartment Community in Atlanta for $98.8M

Perimeter 31

Perimeter 31 is a 416-unit apartment community in Atlanta’s Central Perimeter submarket.

ATLANTA — PRP has sold Perimeter 31, a 416-unit apartment community in Atlanta’s Central Perimeter submarket, for $98.8 million. The buyer was CWS.

A partnership controlled by PRP acquired Perimeter 31 in November 2016 for $74.5 million. Over its ownership, PRP invested over $4 million in base building, amenities and in-unit renovations. According to PRP, Perimeter 31 maintained occupancy levels of 95 percent and rent collections of 98 percent despite the pandemic.

Built in 2001, the Class A property includes six five-story buildings totaling 439,846 rentable square feet with an average unit size of approximately 1,000 square feet. The property’s amenities include a fitness center, swimming pool, structured parking with controlled access, outdoor grills, picnic area and a full-service business center.

The apartment community is situated within a half-mile of Perimeter Mall and is close to the Dunwoody MARTA station.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Western Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews