Cortland buys multifamily property in Atlanta
Cortland, a multifamily real estate investment firm, has added to its Atlanta portfolio of more than 11,000 apartment units with the recent purchase of Domain at Phipps, a 319-unit, class-A property adjacent to Cortland’s Atlanta headquarters.
Cortland will rebrand the community Cortland at Phipps Plaza. Phipps Plaza, which is within a short walk of the apartment complex, is a center owned and operated by Simon that includes retail, dining and entertainment. The mall is currently under redevelopment. When complete, the revamped Phipps Plaza will include a Nobu Hotel and Restaurant; a three-level Life Time athletic club; a new, 13-story, 350,000-square-foot class-A office building named One Phipps Plaza; a “pocket park” on Phipps Boulevard; and an outdoor event venue that will transform the district into a walkable, live-work-play environment.
Apartment demand in Buckhead continues to benefit from the neighborhood’s position as the premiere office market in Atla