The acquisition marks Westside’s entry into the Atlanta commercial real estate market
Atlanta, Ga. (July 13, 2022) – Westside Capital Group, a real estate investment holding firm based in Miami, today announced the acquisition of The Lofts at Twenty25, a landmark, 16-story residential tower located in Atlanta, Ga. Westside acquired the property for $136 million, or approximately $218,000 per unit. Originally built in 1951 and completely redeveloped in 2021 as a new building, the property caters to renters seeking an upscale, experiential living experience in Atlanta’s premier neighborhoods of Buckhead and Midtown.
“We believe in the Atlanta market, and in particular Buckhead and Midtown as urban walkable centers that have become top gateway submarkets with great employment options, various urban amenities and walkability,” said Jakub Hejl, founder and president of Westside. “With its prime location among affluent residential neighborhoods, immediate walkability to almost 4 million square feet of medical employment and close proximity to Buckhead Village and Midtown amenities, The Lofts at Twenty25 is a unique multifamily asset that will offer a luxury lifestyle at relatively affordable rents compared to other alternatives in the marketplace.”
Westside owns approximately $1.2 billion of multifamily and mixed-use assets and land in Southeastern United States in Florida, Georgia and Alabama. Westside also has a development pipeline of approximately $3 billion of multifamily and mixed-use assets on developable land it owns mostly in Florida. The company is actively pursuing investments in existing assets, real estate companies as well as land throughout the Southeastern U.S.
Located at 2025 Peachtree Road, The Lofts at Twenty25 were originally built in 1951 and completely redeveloped in 2021 as a new building. The 16-story building features one-bedroom apartments ranging from 430 square feet to 600 square feet. Unit interiors feature 8-foot 10-foot ceilings, wood-style plank flooring, quartz countertops and stainless-steel appliances, track and pendant lighting, and walk-in closets, barn-style doors, and stunning skyline views of Midtown and Buckhead. The property amenities include a 5,000-square-foot fitness center, swimming pool, movie theater, convenience store and coffee shop, dog park and dog wash, swimming pool, billiards, and game room, office and conference rooms, bike storage, putting green, laundry facility and dry-cleaning service, EV charging stations, and 405 parking spaces.
The property is in a prime location at the intersection of Atlanta’s top two business districts, Buckhead and Midtown. The property is located amongst various residential neighborhoods with homes valued at $1 million and up. Peachtree Road medical corridor which encompasses 3.6 million square feet of medical space and supports approximately seven thousand medical jobs, is located immediately adjacent. Bobby Jones Golf Course is right next door also. There are a variety of retail and restaurant options nearby and within walking distance, including national brands like Fresh Market, Starbucks, CVS, Panera, Houston’s, Benny Hanna’s, and Chick-fil-A, as well as many popular local brands.
About Westside Capital Group
Westside is a real estate investment company with approximately $1.2 billion of multifamily and mixed-use assets and land in Southeastern United States in Florida, Georgia and Alabama. Westside has a development pipeline of approximately $3 billion of multifamily and mixed-use assets on developable land it owns mostly in Florida. The company is actively pursuing investments in existing assets, real estate companies as well as land throughout the Southeastern, Mid-Atlantic and Sunbelt U.S. Westside creates value through research-driven investments in special situations, active management, and targeted capital initiatives. Westside establishes individual investment platforms within the firm with a particular desire to strengthen economies of scale, operating expertise, and exit optionality. Its strategy within asset classes, capital structures, and markets shifts based on macro-economic considerations. For more information about Westside, please visit www.westsidecg.com.
