Buyers Snap Up 2 High-End Suburban Atlanta Apartment Complexes
In separate deals, two major commercial real estate investors each paid more than $60M for suburban Atlanta apartment complexes.
Phoenix-based Professional Equity Management purchased The Series at Riverview Landing, a 270-unit suburban apartment complex in Mableton, for $70M, according to records in the Georgia Superior Court Clerks’ Cooperative Authority database.
At that price, PEM paid $259,300 per unit for the suburban complex. The average third-quarter sale price per unit in Metro Atlanta was $188K, according to the commercial real estate firm Matthews.
The property was developed by Atlanta-based Prestwick Cos.
The Series was part of a two-property purchase by PEM that also included the 280-unit EmmaJames apartment complex in Savannah, according to a press release.
In an email, PEM CEO Paul Mashni said the purchase represented an opportunity to buy a desirable property at an affordable price in an area that draws high-earning households.
“What gives us confidence is we're acquiring institutional-quality construction without development risk or lease-up uncertainty — and we did it below replacement cost in one of Atlanta's strongest submarkets,” he said in an email.
The Series represents the fourth acquisition in Georgia for PEM. The purchases were made using agency financing at a conservative 55% to 65% loan-to-value ratio, Mashni said.
Some 34 miles northeast of The Series, Boston-based GID purchased Windsor Sugarloaf Heights, a 312-unit suburban apartment community near the Sugarloaf Mills mall in Lawrenceville, for $63.8M, according to Superior Court Clerks’ Cooperative Authority records.
Brand Properties, the seller, developed the project, formerly known as The Mason Sugarloaf, in 2022, according to its website. GID declined to comment.
The latest sales come as institutional investors flock to the market to buy apartments. The top 25 sales of the year so far exceed $2.4B in transactions, according to data compiled by Partners Real Estate. Institutional and national private buyers dominated the acquisition spree in 2025, according to Partners, with portfolio sales accounting for 10 of the 25 largest trades, including Equity Residential’s $535M purchase of eight metro area apartment complexes from Blackstone this past summer.
Nearly 70% of Metro Atlanta multifamily transactions in the first half occurred in suburban and exurban markets, according to Northmarq.
