Walker & Dunlop, Inc. announced today that it closed the investment sale of Azure on the Park, a 25-story, 329-unit, LEED Gold Certified, Class A multifamily community. The property is located in Atlanta, Georgia, where the Walker & Dunlop Investment Sales team has closed over $2.4 billion in sales over the last 34 months.
Delivered in 2016, the high-rise property overlooks Piedmont Park, a 189-acre center for culture and recreation in Midtown. This central location provides Azure's residents with unobstructed views of the Atlanta skyline – from Buckhead to downtown – as well as access to over 150 restaurants, world-class art exhibitions, high-end retail, and the transformative Atlanta Beltline trail. The city's diverse employer base of Fortune-500 corporations, world-class centers of education and healthcare, and innovative technology startups are also just steps away from the property.
The Walker & Dunlop Investment Sales team, led by Kris Mikkelsen, Telly Fathaly, and Greg Engler, represented Atlantic Realty Partners and J.P. Morgan Asset Management in the sale of the asset to American Realty Advisors. Mr. Mikkelsen remarked, "Atlantic Realty Partners and J.P. Morgan set the standard in the Southeast by delivering a core quality product in an irreplaceable location. Azure represents a truly differentiated product that will stand the test of time in the most dynamic submarket in the Southeast."
Richard Aaronson with Atlantic Realty Partners commented, "This project represents the culmination of our team's work to create a world-class multifamily community in the heart of Atlanta's most sought-after submarket. We as well as our partners at J.P. Morgan were very confident in the team at Walker & Dunlop, and their ability to effectively present this unique opportunity to a high-quality set of institutional investors."
Situated in the heart of Midtown, Azure enjoys direct access to the area's booming employment market and Atlanta's continued transformation into a global hub of commerce, education, and the arts. Accentuating Azure's unparalleled location are the quality of both the interior and community amenities. Units feature 9-foot ceilings, floor to ceiling windows, luxury finishes, and state of the art technology. Amenities include a clear-edged, rooftop, saline pool overlooking Piedmont Park, as well as several other spectacular community spaces that feature the city views.
Walker & Dunlop Investment Sales is a leader in the multifamily brokerage space, growing its yearly volume by 45 percent from 2016 to 2017, outpacing the broader multifamily investment sales market. In 2018, the team also expanded its footprint to several new markets, including New England, California, and Texas. To learn more about Walker & Dunlop Investment Sales and our available properties, visit our website and YouTube channel.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 600 professionals in 28 offices across the nation with an unyielding commitment to client satisfaction.
