1/8/2008

Fort Wayne insurance company sells Atlanta apartments for $35M

by

The Estate at Crossroads

Fort Wayne, Ind.-based Lincoln National Life Insurance has sold The Estate at Crossroads, a 344-unit apartment community in the Atlanta suburb of Duluth, Ga., for $35.9 million to Chicago, Ill.-based Benjamin Sherman and Sons.

Lincoln National was represented in the deal by Greg Engler and Pat Jones of Engler Financial Group, along with Art Wadlund of Hendricks & Partners' Tucson, Ariz., office.

The complex contains 13, two, three and four-story buildings at 2620 North Berkeley Rd. It was built in 2002 and contains 339,878 rentable square feet.

Engler is the president of Engler Financial and a former partner with Moran & Co. Prior to that, he was a multi-family specialist with Archstone Communities. He earned his B.S. in construction engineering from the University of Nebraska.

Jones is a senior VP with Engler and also spent time with Moran & Co. He also worked as an associate in the acquisitions department of Atlanta-based Lend Lease. The Certified Public Accountant has an M.B.A. and is a licensed real estate salesman.

Address: 2620 North Berkeley Rd., Duluth, Ga.

Size: 344 units

Built: 2002

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Filed Under: Multi-Family

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