The third time's a charm for a huge portfolio of Brookhaven apartments that has sold three times since 2011. A $75M charm. We spoke with Berkadia's Paul Vetter (right) who sold the Tempo portfolio again, along with Matt White and Andrew Mays, to an investment organization named Benimax from Marquis Investments for more than $63k/unit. The properties with more than 1,100 units include Marquis-named complexes such as Marquis at Brookhaven, Marquis Gardens (here), Marquis Station and Marquis Terrace and Marquis Mark (just kidding about that one). All are along the Buford Highway corridor in and around the City of Brookhaven, Matt says.

The trio first brought this portfolio to market in 2011 when they sold it for the original developer for $37M. That buyer began to push up NOI from $2.5M to $4M and then resold it in 2013 to Marquis Investments for $49.5M (again with Berkadia's help). “Marquis continued to push rents...and did a great job of controlling expenses by pushing the NOI to $5M-plus, where it sits today,” Paul says. And that was done with very little, if any, update to the units. Paul says Benimax's “untapped potential” for the properties to push NOI to $6M is renovating the units to push rents up even further.