Wilwat Properties Inc. sold its Atlanta, GA, area multifamily portfolio for $78.5 million, or about $91,000 per unit. Alpharetta-based real estate investment firm Hibernian Pacific Holdings LLC, an affiliate of Evolution Capital Management, was the buyer.
The 864 apartment units increase Hibernian Pacific's diversified portfolio, which is mostly in the southeast, midwest and western markets.
TreeCorners, at 1525 Grayson Highway in Grayson, is a 414-unit complex with three-story buildings that consist of one-, two- and three-bedroom units and townhouses. The Trees of Kennesaw at 1925 Old Highway 41 NW in Kennesaw is a 450-unit property with a similar unit mix except there are no townhouses. Both communities feature a hydro-spa, car care center, conference room and lighted tennis courts.
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Editor's note: The article was updated to reflect Hibernian Pacific Holdings as an affiliate of Evolution Capital Management.