A Miami real estate investment firm has bought a 16-story apartment tower in Buckhead.
Westside Capital Group acquired The Lofts at Twenty25 for $136 million, or about $218,000 per unit, according to a press release.
The property at 2025 Peachtree Road was formerly The Darlington, well known for its “Atlanta Population Now” sign and affordable rents. It was built in 1951 but in recent years went through an extensive renovation that displaced its previous tenants.
The Lofts at Twenty25 now features one-bedroom apartments, ranging from 430 square feet to 600 square feet.
Westside Capital said it was drawn to the property due to its prime location and walkability.
“We believe in the Atlanta market, and in particular Buckhead and Midtown as urban walkable centers that have become top gateway submarkets with great employment options, various urban amenities and walkability,” Jakub Hejl, founder and president of Westside Capital, said in the press release.