RPM Living Investments paid $85 million, or $212,500 per unit, for Aspire Lenox Park. The seller was Willow Bridge Property Co., the recently rebranded multifamily division under Dallas-based Lincoln Property Co. It acquired the community in 2014. Aspire Lenox Park has 400 units spread across ten buildings. RPM Living financed the acquisition with a $59.2 million Freddie Mac loan. 

The community is just under 25 years old. The Atlanta Business Journal reports since its completion in 2000, it has traded hands twice: once to Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF) for $70.6 million, and to Willow Bridge ten years later for $75.3 million. 

RPM Living is a full-service apartment management and investment company. It’s headquartered in Austin, Texas, and maintains several offices across the Southeast, including Atlanta. The firm owns a number of apartment communities across intown and suburban Atlanta, both high-rise and garden-style.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.