Atlanta-based real estate company Equity Residential recently acquired the Iris O4W project in Atlanta for $126 million. The 319-unit property was sold by Crow Holdings and represented by CBRE’s Southeast Multifamily team. This marks the highest sales price for an apartment property in Atlanta this year, according to Databank.
Equity Residential already owns seven properties in Atlanta with a total of approximately 2,100 units. The location of Iris O4W is highly desirable as it is within walking distance of popular attractions such as Ponce City Market and the Eastside Trail on the Atlanta BeltLine, which sees over 2 million visitors annually.
The rental prices at Iris O4W range from $1,800 for a studio to $3,300 for a two-bedroom unit. The project boasts luxurious amenities including a saltwater pool, rooftop lounge, pet spa and coffee shop.
