New York-based investors have made a significant acquisition in Atlanta’s Buckhead neighborhood. An affiliate of Goldman Sachs purchased the 210-unit apartment building at 92 West Paces Ferry Road for $90.8 million, according to a Fulton County deed. The seller was an affiliate of Chicago-based Mesirow, as reported by the Atlanta Business Chronicle. No mortgage was recorded with the sale, indicating it was likely an all-cash transaction.
The price equates to about $432,000 per unit, making this one of the most expensive multifamily property sales in metro Atlanta in recent years. The nine-story building is located on 2.4 acres within the Buckhead Plaza development and is near Buckhead Village.
Originally built in 2012 by Preserve Properties, the property offers one-, two-, and three-bedroom units. It recently underwent renovations led by Minnesota contractor Renova One, which included updates to common areas, lighting, and finishes.
The purchase appears to have been completed through Exchange Place All Cap II REIT, a pooled investment vehicle that has raised at least $3.2 billion since its launch in 2024, based on filings with the Securities and Exchange Commission. Goldman Sachs declined to comment on the transaction.
Property records show that the building last sold for $71.5 million in 2020 and for $73.2 million in 2014. The latest sale price reflects both rent growth following the pandemic and investor interest in prime locations near high-end retail and hospitality venues.
The apartment complex is adjacent to The St. Regis Atlanta hotel and close to Kolter Urban’s planned condo tower at 102 West Paces Ferry Road. In addition, Cousins Properties owns nearby office buildings One and Two Buckhead Plaza as well as Chops Lobster Bar’s standalone location.
Buckhead continues to see new development activity. Construction is ongoing at Veridian Buckhead—a condo tower at 119 Pharr Road led by Dezhu U.S.—and Tidal Real Estate Partners has proposed around 400 luxury apartments at 321 Pharr Road; demolition work there has not yet started.
In another recent transaction within Buckhead’s submarket, Pharr Court Condominiums—a 52-unit property—sold for $10.7 million in December to entities associated with local investor Todd Robinson.
