Cushman & Wakefield has arranged the $22.75 million sale of Lofts at College Hill, located in Macon, Georgia. Robert Stickel, Taylor Bird and Nelson Abels of Cushman & Wakefield represented the seller, Southern Pine Plantations and Sierra Development, in the transaction. Waypoint Residential acquired the property.
“This new-built conventional, boutique asset represented a rare combination of investor must-haves: top-notch product quality, urban-infill location, legitimate walkability, stabilized status, and potential upside opportunity,” Stickel said. “Waypoint Residential was attracted to this combination of qualities, as well as its position as a Class A, hybrid-student housing asset with 80 percent student-resident profile.”
Lofts at College Hill, located in the center of Macon’s revitalizing urban core and historic College Hill neighborhood, is poised to benefit from Mercer University’s multiple, Macon campus expansion projects currently underway. Lofts at College Hill, built in 2015, offers contemporary, best-in-class residences and amenities within a unique site plan that features a coveted roof top terrace, outdoor courtyard, and ground-level retail component.
“Class A student demand in Southeast markets is a rapidly growing trend, as today’s students are demanding more amenities, top interior finishes and best access to school and nightlife,” Bird said. “Lofts at College Hill provided all of these to the rapidly growing Mercer student population, as well as young professionals wanting to live in Downtown Macon.”