May 8, 2017
Blackstone acquired Emory Point I and II, a mixed-use asset in Atlanta, for $199 million from a joint-venture between Atlanta-based Cousins Properties and Gables Residential. The property is comprised of of 750 apartments and 125,000 square feet of retail space.
The transaction set a record price for apartments in metro Atlanta, exceeding the nearly $151-million Village at Lake Park apartments deal.
CBRE’s Paul Berry, John Whitlow, Chris Decoufle and Kevin Hurley represented the sellers. CBRE’s Robert Kadoori secured acquisition funding.
Berry said, “Emory Point’s thoughtful details are evident at every turn, translating to a superior experience for residents, shoppers and diners, and a lasting value for investors.”
Emory Point was developed in two phases in 2013 and 2015, on a ground-leased site owned by Emory University. Situated along Clifton Road between Atlanta and Decatur, the property is surrounded by the university campus and CDC HQ.
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