ATLANTA (Dec. 26, 2013) - MetLife Real Estate Investors is poised to make another $100 million investment in metro Atlanta. This time, the affiate of the insurance giant is buying a multifamily development across from OliverMcMillan's Buckhead Atlanta.
MetLife will pay $100 million - or $268,000 per unit - for Elle of Buckhead, the new upscale apartment community on Pharr Roar, according to Real Estate Alert. The seller is a joint venture beweetn USAA Real Estate of San Antonio and developer JLB Partners of the Dallas Metroplex.
The five-story apartment complex opened in 2012.
For MetLife, the Elle acquisition will be the second megadeal is will complete in Atlanta in the past two months. Earlier this month, MetLife closed on its $190 million purchase of The Terraces, a 1.1 million-square-foot office complex near Perimeter Mall.
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