Luxury apartments purchased in Atlanta’s Midtown

JV buyers attracted to market's 'strong fundamentals'

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GID Investment Advisers LLC acquired the 188-unit Sterling at the Park luxury apartment community in Atlanta, Ga., for an undisclosed price. The community, which will be renamed Windsor at Midtown, is located in the city's Midtown section. The five-story property was constructed in 2001 and sits atop a two-level parking structure that includes 390 parking spaces, all of which are within secured access areas. Amenities of this community include a fitness center, business center with Internet access, and a swimming pool with a sundeck area. Apartment amenities include 9- and 10-foot ceilings with trey details, large walk-in closets, private terraces and verandas, gourmet kitchens, and oversized bathtubs. Bill Chiasson, vice president of Real Estate Acquisitions for GID, in a statement said, "Atlanta continues to be high on our list of target markets due to the strong fundamentals exhibited. ... We believe that the continued emergence of Midtown Atlanta into a dynamic live-work-play cen...