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Novare Group has completed the sale of SkyHouse Buckhead, a high-rise multifamily tower, to UBS Realty Investors in an $83.4 million transaction. The deal comes roughly a decade after Novare first developed the property, marking a full investment cycle for the seller and a new entry point for UBS into the asset’s ownership.
SkyHouse Buckhead is located at 3390 Stratford Road NE and rises 26 stories. Delivered in 2015, the apartment community comprises 362 residential units, positioning it as a sizable high-rise asset in its local market. The sale was first reported by the Atlanta Business Chronicle, which noted that Novare had held the property since development.
The tower is part of Novare Group’s broader SkyHouse multifamily platform. Working in partnership with Batson-Cook Development (BCDC), the company has developed 18 high-rise residential projects across the Southeast under the SkyHouse brand. These projects collectively represent a significant high-rise footprint for the partners in the region’s urban multifamily sector.
UBS has been involved with multiple properties in the SkyHouse portfolio. Five SkyHouse projects, including SkyHouse Buckhead, were completed with the help of UBS. Another notable example is a 320-unit tower formerly known as SkyHouse Midtown along West Peachtree Street. UBS previously acquired the Midtown property and subsequently sold it to The Radco Cos., illustrating UBS’s ongoing activity in trading institutional-quality multifamily assets tied to the SkyHouse platform.
Beyond its high-rise developments, Novare Group has in recent years focused on several mid-rise multifamily projects across the broader region. These communities, either recently completed or currently under construction, are located in markets ranging from Powder Springs and Acworth to Sugar Hill and Atlanta’s Westside. This shift highlights the firm’s active development pipeline and diversification across multiple submarkets within the region.
The disposition of SkyHouse Buckhead to UBS Realty Investors, together with UBS’s prior transactions involving SkyHouse Midtown, underscores that stabilized, branded multifamily towers in established neighborhoods continue to attract institutional capital and support portfolio-level strategies in the Southeast.
The post Novare Group Sells SkyHouse Buckhead in Atlanta to UBS Realty Investors for $83.4M appeared first on CRE Market Beat.
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