Berkshire acquires Atlanta apartment asset
An affiliate of Berkshire Group has acquired Crescent Terminus, a 355-unit, class A apartment community completed in 2014 and located in the Buckhead submarket of Atlanta. The seller was Crescent Communities.
Specific financial terms of the deal were not disclosed.
Atlanta is expected to be one of the fastest growing metropolitan regions in the United States during the next five years, in terms of both population and employment growth.
Crescent Terminus is a three-building complex comprised of studio, one- and two-bedroom units. It is located at the nexus of two major roadways, Piedmont and Peachtree, and offers close proximity to public transit. Buckhead is one of the largest office markets in Atlanta, and the property is surrounded by office towers and hotels, and within walking distance of high-end restaurant, retail and entertainment venues.
Crescent Terminus is the first asset sale of six properties in major markets in the Southeastern U