ATLANTA, GA - Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Cadence, a newly constructed 294-unit multifamily property in Sugar Hill, Georgia.
Cushman & Wakefield’s Robert Stickel and Alex Brown represented the seller, Prestwick Development Company, in the transaction. The multifamily property was acquired by Passco Companies, a nationally recognized market leader in the acquisition of Class A multifamily properties throughout the U.S.
"Prestwick Development Company delivered a thoughtful vision with this high visibility first-class addition to this growing, vibrant North Atlanta suburb. They worked collaboratively with the city of Sugar Hill to create an exceptional multifamily community in this highly desirable submarket’s town center,” said Stickel, Executive Vice Chair at Cushman & Wakefield.
Cadence was built in 2022 and is ideally located in one of Atlanta’s fastest growing suburban markets. The multifamily property is within walking distance of Sugar Hill’s E-Center, numerous entertainment venues, boutique retail, and curated dining options. It also offers exceptional access to Interstate 85 and premier job clusters throughout the Atlanta metro area.
"The Sugar Hill market has been an attractive area for investors with its substantial job and population growth, as well as an exceptional town center environment,” added Brown, Executive Director at Cushman & Wakefield. “The Cadence property will directly benefit from the market’s supply and demand dynamic and is primed for substantial rent growth.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 95-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2021, the group closed $13.8 billion in sales volume through 429 deals and nearly 85,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.