Toll Brothers Unloads Its Midtown Student Housing Tower: The Atlanta Deal Sheet
As the international real estate investment firm Kennedy Wilson prepares to buy out Toll Brothers' multifamily platform, it has acquired the developer’s Midtown apartment tower for more than $130M.
Toll Brothers sold the 239-unit Kinetic student housing tower at 1025 Spring St. in Midtown to an LLC tied to Kennedy Wilson for $132M, according to records posted in the Georgia Superior Court Clerks' Cooperative Authority database.
Toll Brothers Campus Living developed the $91M tower with 752 beds near the Georgia Tech campus in 2024. The sale occurred on Dec. 5, according to tax documents in the database.
It was unclear if Toll Brothers’ neighboring Momentum Midtown luxury apartment tower was part of the sale.
Neither Toll Brothers nor Kennedy Wilson responded to messages seeking comment as of press time.
The purchase comes as Kennedy Wilson finalizes its acquisition of Toll Brothers Apartment Living for $380M, a transaction that was initially expected to close in October but is now expected to close in the first quarter.
In September, Kennedy Wilson agreed to acquire interests in 18 Toll Brothers multifamily and student housing properties valued at $2.2B, as well as a pipeline of 29 projects in various stages of development. Earlier this month, Toll Brothers CEO Douglas Yearly said Kennedy Wilson would buy around 50% of its apartment portfolio.
It wasn’t immediately clear whether the Kinetic sale was part of the overall planned $380M platform price tag or an independent asset sale.
SALES
Rosewood Property Co. purchased 6434 Covington Highway, a 90,500 SF, 825-unit self-storage facility run by Extra Space Storage. The seller and sales price weren’t disclosed.
The project was developed in 2020 by Atlanta-based Diamond Point Development and was valued at $19.5M this year, according to DeKalb County property records.
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RDG Student Housing purchased Market 100, a 162-unit, 532-bed student housing project near Georgia Southern University in Statesboro, from Preiss for an undisclosed sum, according to JLL.
In 2025, Bulloch County listed the value of the project at 100 Bermuda Run Road at $9.8M.
JLL’s Teddy Leatherman, Scott Clifton and Kevin Kazlow brokered the sale for Preiss.
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Phoenix-based Professional Equity Management bought The Series at Riverview Landing, a 270-unit suburban apartment complex in Mableton, for $70M from Atlanta-based Prestwick Cos.
It was one of two major apartment sales in Metro Atlanta over the past week. Boston-based GID also acquired Windsor Sugarloaf Heights, a 312-unit community near the Sugarloaf Mills mall in Lawrenceville, for $63.8M from Brand Properties.
LEASES
Simplicity Financial, a wealth planning firm, leased 22K SF in the 900 Building of Circle 75 Office Park in Cobb County. The firm was part of three leases inked in Circle 75 over the past month, including an 18K SF lease with the coworking operator VentureX in the 1100 Building and Phoenix Health Care’s 11K SF in the 900 Building.
Circle 75 is owned in a joint venture between Atlanta-based SK Commercial Realty and Nebraska-based Goldenrod Cos.
SK’s Tom Parker and Tom Kirbo represented the landlord, while Partners Real Estate’s Brooke Gothard and Shea Meddin represented Simplicity Financial. Colliers International’s Jodi Selvey and Derek Baker represented VentureX, while CBRE’s Steve Barton handled Phoenix Health Care.
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Resurgens Orthopaedics inked a 5K SF medical office lease at Griffin Crossroads, a 109K SF neighborhood shopping center at 1459 North Expressway in Griffin.
Colliers’ Andrew Walker and Michael Lipton represented the tenant. Griffin Crossroads was developed in 2001 by Halpern Enterprises and was represented by Dan Gagne with Halpern.
PERSONNEL
Wood Partners has tapped Marc Brambrut as managing director of its Atlanta office, tasked with sourcing, financing and developing multifamily and mixed-use projects in Georgia. Most recently, Brambrut was senior vice president at Portman Residential and held leadership roles at Novare Group and Fairfield Residential.
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Arco Design/Build has named Nick Hasapes and Joe Matthews as new co-CEOs of the firm as of Jan. 1. Hasapes and Matthews are replacing CEO Rob Steigerwald and President Jake Stefan, who are set to retire on Dec. 31, the Atlanta Business Chronicle reported.
Steigerwald and Stefan will join the firm’s board of directors.
FINANCING
Woodfield Development obtained a $47M refinance loan for its Union Green apartment complex off South Fulton Parkway in Atlanta. The floating-rate bridge loan was provided by ACRE.
The 295-unit apartment community is at 4980 Stonewall Tell Road.
Walker & Dunlop’s Walker Layne, Allan Edelson, Matthew Wallach and Stephen West obtained the financing for Woodfield.
