Weinstein Properties recently acquired the 315-unit Alexan Summerhill for a total of $94 million. The sale was financed by a $56.5 million loan from Regions Bank, set to mature in November 2029. PGIM Real Estate acted as the seller in this transaction.
Trammell Crow Residential developed the property, which has now been rebranded as Bexley Summerhill under Weinstein’s ownership.
According to reports from Atlanta Business Journal, since the departure of Braves stadium, Summerhill has seen significant growth in both residential and retail development. In just four years, three new projects have added a total of 870 apartment units to the area.
In early 2023, Publix opened its doors as Summerhill’s first grocery store in years. This addition is located near Georgia Avenue’s revitalized retail and office development.
In August of this year, Weinstein also acquired Bexley Sugarloaf – another completed apartment community with 390 units – for $135 million in Duluth county. Cushman & Wakefield’s Robert Stickel led negotiations on behalf of the seller during this transaction.
