Novare Group sold SkyHouse Buckhead to UBS Realty Investors for $83.4 million. The Atlanta Business Chronicle reports the transaction comes about a decade after the previous owner, Novare, developed the 26-story tower at 3390 Stratford Road NE. Built in 2015, the apartment community has 362 units.
The company, along with Batson-Cook, developed 18 high-rises in the southeast under the SkyHouse brand.
Five of the SkyHouse projects came together with the help of UBS, including the Buckhead tower and a 320-unit tower once known as SkyHouse Midtown along West Peachtree Street. UBS previously acquired the Midtown building and sold it to The Radco Cos.
In recent years, Novare Group has delivered several mid-rise projects that are either completed or under construction across the region, from Powder Springs and Acworth to Sugar Hill and Atlanta’s Westside.
The post Novare Offloads SkyHouse Buckhead for $83.4M appeared first on Connect CRE.
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