Atlantic American Partners JV sells luxury multifamily property for $112m

The Trillist Cos. and Atlantic American Partners, its joint venture equity partner, have announced the record-setting sale of YOO on the Park, a 25-story, 243-unit luxury multifamily property in the heart of Atlanta’s Midtown adjacent to Piedmont Park, to Lincoln Property Company Residential and partner Cadillac Fairview for $112.5 million ($522 per square foot).

The sale of YOO on the Park marks the highest purchase price per square foot in Atlanta history. YOO on the Park continues to command some of the city’s highest rents per square foot and was 94 percent occupied at the time of sale.

“We knew Atlanta was ready for this high level of sophisticated and playful design,” said Scott L. Leventhal, president and CEO of Trillist. “Demand has remained strong for its unparalleled features, amenities and incredible design, and we very much look forward to launching our next iteration of the YOO brand in Midtown.

“This core multifamily property provided a