Boston, MA – (July 15, 2019)
GID announced today that it has acquired Chastain Heights, a 322 unit apartment community located in the Sandy Springs neighborhood of Atlanta, GA. This location is central to Buckhead, Perimeter Center, and Cumberland/Vinings, all major regional employment nodes, and will benefit greatly from the continued expansion of Perimeter Center (four miles from Property) as an office and retail hub. The acquisition represents GID’s first transaction with the Worthing Companies.
Built in 2017, Chastain Heights consists of one four-story residential structure wrapped around a 497-space structured parking deck dedicated to residents. The community features a pool with a poolside fireplace and grilling area, a fitness center with TRX training zone, a multi-media conference room, a package locker with concierge service, and a pet spa. Unit finishes include ten-foot ceilings in every unit, stainless steel appliance package (including French door refrigerator and drop in ranges), quartz countertops, vinyl plank flooring, and crown moldings.
Chad Russolillo, Vice President of Acquisitions at GID commented, “This acquisition provided GID an opportunity to acquire a high quality asset with access both to rapidly expanding employment submarkets and the residential feel of Chastain Park, a neighborhood that offers impeccable green spaces and lifestyle upside. We are pleased to add such an outstanding asset into our expanding Atlanta portfolio.”