{"id":387766,"date":"2020-11-24T09:33:26","date_gmt":"2020-11-24T14:33:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387766"},"modified":"2020-11-24T09:33:26","modified_gmt":"2020-11-24T14:33:26","slug":"cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\/","title":{"rendered":"Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta"},"content":{"rendered":"

<\/p>\n

Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta <\/b><\/p>\n

ATLANTA–(BUSINESS WIRE<\/a>)–
\nCushman & Wakefield (NYSE: CWK) has arranged the $68.2 million sale of The Eddy at Riverview Landing, a 310-unit apartment community located in Smyrna, Georgia, part of Metro Atlanta.\n<\/p>\n

\nRobert Stickel, Alex Brown and Ashlyn Warren of Cushman & Wakefield represented the seller, Prestwick Companies, in the transaction. JEM Holdings, a New York-based real estate investment management company, acquired the newly developed multifamily asset which is currently in lease-up.\n<\/p>\n

\n\u201cThere are very few places in metro Atlanta to live and play on the Chattahoochee River,\u201d said Chuck Young, partner and EVP Prestwick Development Company. \u201cWe\u2019re very proud of what we\u2019ve created here at Riverview Landing and could not have accomplished what we have here without the City of Smyrna, our debt and equity partners, First Horizon Bank & Palatine Capital Partners, and our contractor, Prestwick Construction.\u201d\n<\/p>\n

\nThe Eddy at Riverview Landing is positioned within a sustainably minded mixed-use development along the Chattahoochee River. The property has offered limited concessions throughout lease-up, providing a firm foundation for effective rent growth post-stabilization.\n<\/p>\n

\n\u201cThe acquisition of The Eddy provided an opportunity for us to utilize 1031 benefits while acquiring a beautifully constructed, core asset at a pre-stabilized valuation,\u201d said Mikael J. Levey, Chief Executive Officer and Founder of JEM Holdings. \u201cWe are excited to continue where Prestwick left off in leasing up the property and to provide our investors with superior risk adjusted returns.\u201d\n<\/p>\n

\n\u201cPrestwick had the vision and opportunity to develop Atlanta\u2019s first multifamily assets along the Chattahoochee River in the last 40 years,\u201d Stickel said. \u201cThe Eddy at Riverview Landing provides a unique lifestyle for residents with its thoughtful amenities.\u201d\n<\/p>\n

\nCushman & Wakefield\u2019s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 300 transactions and $7.0 billion in multifamily and land investment sales in 2019 (Source: Real Capital Analytics www.rcanalytics.com<\/a>). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https:\/\/multifamily.cushwake.com<\/a>.\n<\/p>\n

About Cushman & Wakefield<\/b><\/p>\n

\nCushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.\n<\/p>\n

About Prestwick Companies<\/b><\/p>\n

\nPrestwick Companies is a fully integrated development, construction, and investment group that specializes in multifamily housing. Prestwick develops and renovates both family and senior housing in the Southeastern United States.\n<\/p>\n

About JEM Holdings<\/b><\/p>\n

\nJEM Holdings is a New York-based real estate investment firm focused on the acquisition of value-add properties. Since inception, the company has acquired over 9,000 multifamily units in the Southeastern US and multiple office properties and is currently developing two multifamily properties. JEM is actively seeking to grow its portfolio through the acquisition of additional multifamily and office properties as well as through select development opportunities.\n<\/p>\n

About Riverview Landing <\/b><\/p>\n

\nRiverview Landing represents the transformation of a once abandoned industrial site into a walkable and connected community along the Chattahoochee River. Riverview Landing will be rich in public amenities from riverfront parks, trails, a kayak launch and community theatre to retail and coffee shops\u2014and the Chattahoochee itself.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201124005669\/en\/<\/a><\/span><\/p>\n

Savannah Durban
\n<\/span>
Senior Communications Specialist, South Region
\n<\/span>
+1 404 853 5371
\n<\/span>
savannah.durban@cushwake.com<\/a><\/p>\n

KEYWORDS:<\/b> Illinois Georgia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Commercial Building & Real Estate Construction & Property REIT<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta ATLANTA–(BUSINESS WIRE)– Cushman & Wakefield (NYSE: CWK) has arranged the $68.2 million sale of The Eddy at Riverview Landing, a 310-unit apartment community located in Smyrna, Georgia, part of Metro Atlanta. Robert Stickel, Alex Brown and Ashlyn Warren of Cushman & Wakefield represented the seller, Prestwick Companies, in the transaction. JEM Holdings, a New York-based real estate investment management company, acquired the newly developed multifamily asset which is currently in lease-up. \u201cThere are very few places in metro Atlanta to live and play on the Chattahoochee River,\u201d said Chuck Young, partner and EVP Prestwick Development Company. \u201cWe\u2019re very proud of what we\u2019ve created here at Riverview Landing and … <\/p>\n

Continue reading “Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387766","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta ATLANTA–(BUSINESS WIRE)– Cushman & Wakefield (NYSE: CWK) has arranged the $68.2 million sale of The Eddy at Riverview Landing, a 310-unit apartment community located in Smyrna, Georgia, part of Metro Atlanta. Robert Stickel, Alex Brown and Ashlyn Warren of Cushman & Wakefield represented the seller, Prestwick Companies, in the transaction. JEM Holdings, a New York-based real estate investment management company, acquired the newly developed multifamily asset which is currently in lease-up. \u201cThere are very few places in metro Atlanta to live and play on the Chattahoochee River,\u201d said Chuck Young, partner and EVP Prestwick Development Company. \u201cWe\u2019re very proud of what we\u2019ve created here at Riverview Landing and … Continue reading "Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T14:33:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201124005669r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta\",\"datePublished\":\"2020-11-24T14:33:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\\\/\"},\"wordCount\":635,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201124005669r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-arranges-68m-sale-of-310-unit-apartment-community-in-atlanta\\\/\",\"name\":\"Cushman & Wakefield Arranges $68M Sale of 310-unit Apartment Community in Atlanta - 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