Starwood REIT has acquired a fee-simple interest in a multifamily property in Atlanta for $82 million, according to an SEC filing on Aug. 21. The seller was not disclosed.
The Baxter Decatur is a newly constructed, best-in-class, class A multifamily property with 290 units that is 89 percent occupied and 96 percent leased. The Baxter Decatur features high-end luxury interior finishes with top of the market amenity offerings, including being situated approximately 100 yards from North Decatur Square, an 89,000-square-foot mixed-use development anchored by Whole Foods Market.
The Atlanta metropolitan area was the fourth fastest growing area in the United States between 2010 and 2019, which was triple the pace of the national average. Additionally, net job creation in the metropolitan area was positive over the past 10Â years, growing 2.3 percent in 2019, driven by a frien
