ATLANTA — CBRE has arranged the $126.3 million sale of Iris O4W, a 320-unit community in Atlanta’s Old Fourth Ward neighborhood. Equity Residential (NYSE:EQR) purchased the property from the developer, Trammell Crow Residential, and equity partner, Diamond Realty Investments. Shea Campbell, Ashish Cholia, Kevin Geiger, Colleen Hendrix and Don Hoffman of CBRE’s Southeast Multifamily team represented the sellers in the deal.
Located at 652 Angier Ave. NE, Iris O4W was built in 2023. The community offers studio, one- and two-bedroom apartments with an average size of 860 square feet. Amenities include a pool with a sun ledge, outdoor rooftop lounge with an entertainment bar, outdoor club area with grills and a pizza oven, fitness center, a clubroom with game tables and a pet spa.
Equity Residential is a publicly traded REIT headquartered in Chicago. The REIT currently owns or has investments in more than 79,700 apartments across 299 properties in the United States.