Clark Ventures Buys Central Perimeter Apartments: The Atlanta Deal Sheet
An Atlanta-based investor in upscale apartments purchased a complex in Central Perimeter for about the same price as the previous owner acquired it for six years ago.
Clark Ventures bought Park at the Hill, a 296-unit multifamily property off Peachtree Dunwoody Road, for $69.5M, according to records obtained on the Georgia Superior Court Clerks' Cooperative Authority database.
The seller was listed as Broadtree Aspire Perimeter, which is registered to the New York address of alternative asset management firm Benefit Street Partners.
Broadtree Residential purchased the project in 2019 for $69M, Multi-Housing News reported. Benefit Street acquired $450M of assets from Broadtree a year later.
Neither Benefit Street nor Clark Ventures responded to messages seeking comment.
Park at the Hill’s sale comes amid a rebound in multifamily transactions. Roughly $2.3B of Atlanta apartment properties traded hands in the first half of 2025, a nearly billion-dollar increase from the same period in 2024, although a far cry from the 2022 peak, according to CoStar.
The deal is the third-priciest multifamily deal in Metro Atlanta this year. In first place is still the $102M sale of The Falls at Forsythe to Equity Residential, according to Lee & Associates, followed by the REIT's $90M buy of Summit Crossing Apartments in Cumming. The Park at the Hill deal is ahead of Post Investment Group’s $65.5M purchase of Rosemont Peachtree Corners apartments.
LEASES
Supply chain software maker Kaleris leased 26K SF at Preston Ridge III, a six-story, 146K SF office building in Alpharetta owned by Hobbs Brook Real Estate. Kaleris previously subleased space in the building, according to Hobbs Brook. Colliers represented the landlord, and Kaleris was represented by CBRE.
FINANCING
CCI Real Estate obtained a $67M construction loan to develop Impact Athens, an eight-story student housing project on the University of Georgia’s campus. The loan was originated by Affinius Capital and arranged by Summerhill CRE Capital’s Lance Thurman, according to a press release.
Impact Athens will feature 243 units with 353 beds in fully furnished rooms with stainless steel appliances and granite countertops. Amenities will include a rooftop swimming pool, study lounge, coffee shop, 21K SF of commercial space and a 356-space parking garage. The project is set to deliver in the fall of 2027.
CCI is set to move the Baptist Collegiate Ministries from its building on the site to the Lumpkin Street student housing project, 11 Alive reported. Bisnow previously reported that CCI is redeveloping 740 Techwood Drive in partnership with the Georgia Baptist Mission Board into a 55-room student housing project on the campus of Georgia Tech.
DEVELOPMENT
Windsor Stevens Holdings has updated its development plans for The Frazier, a mixed-use apartment project slated for Chamblee.
The firm upped the number of units from 144 to 315 and included 10K SF of ground-floor retail, according to a press release. The project will also include a 338-space podium parking deck. The previous plan for The Frazier called for 7,400 SF of retail.
ASSIGNMENTS
CP Group tapped CBRE’s Garrett Benefiel to market Lakeside Medical Center, a 100K SF office building in Central Perimeter that was recently converted for medical office uses. The building, on the famed medical corridor of Pill Hill, is in the Lakeside Office Park campus at 5775 Glenridge Drive – Building E.
The 110K SF building had more than 87K SF available for lease, according to a LoopNet listing posted last month.
