Braves, Pollack Shores Sell 531-Unit Apartment Portfolio at The Battery for $156 Million

By Tony Wilbert, CoStar

The Atlanta Braves might have fallen short in the playoffs this week, but its development company just hit a home run.

Braves Development Co. (BDC) and Pollack Shores Real Estate Group said late Wednesday they sold Home at The Battery, a trio of apartment communities they developed together in The Battery, a 1.5 million-square-foot mixed-use development anchored by SunTrust Park. Atlanta-based Cortland, a multifamily development and investment firm, acquired the three communities. Combined, Parkside, The Residences and The Flats comprise 531 units, 90 percent of which are occupied.

Cortland paid $156 million, or $293,785 per unit, for the portfolio.

Read more here.