Lubert-Adler Sells Atlanta Multifamily Property

1/16/15 | Atlanta, GA

Lubert-Adler has successfully sold Solace on Peachtree, an 18-story, 533-unit high-rise apartment tower located in the heart of Midtown Atlanta for $54.5 million to Cocke Finkelstein Inc. Lubert-Adler was represented by Cushman & Wakefield’s Capital Markets Group.

Located at 710 Peachtree Street NE, Solace on Peachtree is currently 96 percent occupied. The renovations completed in 2009 modernized unit interiors and added a larger fitness center, a new club room and business center, and an upgraded rooftop deck, among other improvements. The Midtown neighborhood offers eight miles of bike lanes and 14 miles of new sidewalks.

Directly adjacent to the North Avenue MARTA Station and a major Interstate 75/85 interchange, the property provides excellent connectivity to Atlanta's major office submarkets and is in walkable distance to Midtown businesses that employ nearly 100,000 workers.