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Atlanta Commercial Real Estate

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How fast did Northwood Ravin sell this Central Perimeter complex? Well, it's not even done yet. Associated Estates Realty reports to the SEC that it's signed an agreement to buy a portfolio of apartments from Charlotte-based Northwood. It includes 1160 Hammond Apartments, above, a 345-unit complex inside Ackerman & Co's Perimeter Town Center mixed-use project at the corner of Hammond Drive and Peachtree-Dunwoody Road. Ackerman sold a four-acre parcel to Ravin back in 2011. Estimated completion is Q4. AER is buying seven apartment projects from Ravin (including five in NC and one in Tampa) for $323.9M. The closing of 1160 Hammond is contingent upon finished construction.

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