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Cushman & Wakefield Arranges $52M Multifamily Sale

September 25, 2018

ATLANTA--(BUSINESS WIRE)--Sep 25, 2018--Cushman & Wakefield has arranged the $52.1 million sale of The Marquis on Berkeley, a 323-unit apartment community located in Duluth, Georgia. Mike Kemether, Travis Presnell and Josh Goldfarb of Cushman & Wakefield represented the seller in the transaction. A local operator acquired the property for $161,310 per unit.

“One of the biggest changes that has taken place in Atlanta over my career is that Gwinnett County has transformed from a commodity multifamily market to a barriers market with a business-oriented government serving over 1 million people,” Kemether said. “For these reasons, most Gwinnett properties have performed really well. The Marquis on Berkeley is a fantastic product, and it will be fun to see what the buyer can do with such a great canvas.”

Built in 2002, The Marquis on Berkeley is located within the Northeast Atlanta path of progress, just minutes from millions of square feet of Class A office space, thousands of jobs, national retail, major entertainment centers and back-door access to North Fulton. Amenities include a playground, expansive sundeck, fitness center, garages, lighted tennis courts and a resort-style pool.

In 2017, Cushman & Wakefield’s Southeast Multifamily Advisory group closed $4.8 billion in sales volume through 268 deals and more than 55,000 units. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit  https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Source: Cushman & Wakefield

View source version on businesswire.com:https://www.businesswire.com/news/home/20180925006196/en/

CONTACT: Cushman & Wakefield

For Further Information Contact:

Savannah Durban

Communications Specialist

+1 404 853 5371

savannah.durban@cushwake.com

or

Media Contact:

Bailey Webb

Corporate Public Relations Director

+1 404 682 3381

bailey.webb@cushwake.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA ILLINOIS

INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY

SOURCE: Cushman & Wakefield

Copyright Business Wire 2018.

PUB: 09/25/2018 05:12 PM/DISC: 09/25/2018 05:12 PM

http://www.businesswire.com/news/home/20180925006196/en

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