A fund operated by Chicago-based financial services firm Mesirow picked up a prominent Midtown apartment tower at one of the highest prices paid per unit so far this year.

Mesirow paid $132M for Sixty 11th Apartments, a 20-story, 320-unit complex within the 12th & Midtown mixed-use district, from an LLC whose address is tied to MetLife Investment Management in New Jersey, according to tax records filed with the Georgia Superior Court Clerks' Cooperative Authority database.

Mesirow shelled out $412,500 per unit for the luxury tower, a price just behind Goldman Sachs’ $432K-per-unit purchase price of the 92 W. Paces Ferry Road apartments in Buckhead Village in February, according to data compiled by JLL. Mesirow was the seller of that property.

Mesirow did not immediately respond to a request for comment.

Sixty 11th was developed in a joint venture between Daniel Corp., Selig Enterprises and MetLife in 2016, the Atlanta Business Chronicle reported.

The deal marks the latest multifamily trade involving a well-located and high-profile Metro Atlanta apartment complex. Other recent deals include Key Real Estate’s $101M purchase of Alta Porter on Peachtree next to the Brookhaven City Centre and ANiMAL’s purchase of Elan Brookwood, a Class-A apartment complex in Austell, which traded for $103M in February, according to data provided by Yardi Matrix.

Institutional investor deals above $20M for Atlanta-area apartment complexes climbed to the highest level since 2022 as investors were attracted by declining vacancy rates, according to a second-quarter Marcus & Millichap report.

According to superior court clerk records, Mesirow purchased Sixty 11th through its Real Estate Value Fund V, which raised a hard cap of $1.25B last year. Mesirow is targeting value-add multifamily properties across the top 30 U.S. markets that have a potential for cost optimization, space upgrades and property management changes that can boost revenues, Bisnow previously reported.

This isn’t Mesirow’s first Atlanta acquisition in the past year.

The firm, through its V fund, also bought 1105 Town Brookhaven, a 299-unit apartment complex in the Town Brookhaven mixed-use district, for $87M from Wafra in October, the ABC reported.