Atlanta Closes September with Major Multifamily Deals

Atlanta’s multifamily investment market closed out September with the completion of two significant multi-property transactions, offering a glimpse of renewed momentum across the metro area.

According to Chris Goldsmith, managing director of investment sales at Walker & Dunlop, broader conditions are beginning to shift. “The sales market is improving as Atlanta’s record deliveries over 2023 and 2024 have been met with record demand,” Goldsmith said in emailed comments to Multifamily Dive. “We’ve seen this historic absorption stabilize operating fundamentals and embolden buyers to underwrite growth moving forward.”

$352.8M in Financing for Town Laurel Crossing & Manor Barrett

Walker & Dunlop announced Monday that it secured $352.8 million in acquisition financing for the sale of Town Laurel Crossing and Manor Barrett, two recently developed properties built in 2024. The Related Group sold both communities to a buyer connected with GSL Properties, a multifamily firm based in Portland, Oregon, according to Bisnow.

• Town Laurel Crossing (360 units) is located in the Exchange at Gwinnett retail district.
• Manor Barrett (347 units) is situated in the Town Center Commercial District in Kennesaw, Georgia.

Freddie Mac provided capital to facilitate the acquisitions.

Greenwood Star Adds Doraville Properties at Deep Discounts

Another pair of transactions emerged Tuesday. Greenwood Star Holdings acquired both the 281-unit Parkside Apartments and the 96-unit Creekside Apartments in Doraville, Georgia. The deals were made through the firm’s Greenwood Star Income and Growth Trust.

According to the company’s announcement:

• Parkside was purchased for $31.5 million, reflecting a 23% discount from comparable market values.
• Creekside sold for $15.5 million, a 35% discount to comparable sales.
• Both assets included the assumption of 3.63% Fannie Mae loans maturing in August 2029.

Vacancy pressures in the surrounding single-family housing market are also playing a role. Mortgage costs in nearby neighborhoods are more than double the typical monthly rents at these communities, according to Greenwood’s press release.

“Doraville is an in-demand submarket of Atlanta that continues to demonstrate resilient fundamentals, creating a competitive rental housing environment,” said Lisa Li, chairman and CEO of Greenwood Star. “With our integrated property management capabilities and the ability to assume the 3.63% Fannie Mae loans, we believe that Parkside and Creekside are well-positioned to deliver significant value to investors.”

Market Outlook: Volume Set to Rise

Rising occupancy and the absorption of new supply have stabilized performance metrics across the region. Goldsmith noted that after a challenging stretch of record deliveries, lease trends have begun to flatten or tick upward.

“Now that we’re past peak deliveries, concessions have plateaued and they’re starting to recede as more properties hit stabilization,” Goldsmith said.

Looking ahead, he expects a measurable uptick in deals. Goldsmith projects that transaction volume in Atlanta could climb 20% to 25% over 2023 and 2024 levels.

“We expect to see this trend continue in 2026, where we project sales volumes recovering to their pre-COVID, long-term average of roughly $7 billion per year,” he said.

These latest acquisitions underscore renewed confidence in the Atlanta multifamily landscape and suggest that institutional capital is re-engaging, especially where long-term debt assumptions and competitive pricing are available.

Originally reported by Leslie Shaver in Multi Family Dive.