Lion Real Estate Group (LREG), a real estate investment and management firm founded in 2007 by Mory Barak and Jeff Weller, has acquired Briarhill Apartments, a 292-unit multifamily community at 1470 Sheridan Rd. N.E. in Atlanta. Built in 1988, the approximately 254,624-square-foot property is on nearly 10 acres of land and is 94% occupied. Terms of the transaction were not disclosed.

"This acquisition gives us a strong position in the North Druid Hills submarket, where recent new multifamily supply has largely been absorbed, and very little development is planned. We acquired the asset at a favorable basis relative to replacement cost and at an attractive point in the cycle, as the market continues to recover and rent growth momentum begins to build," said Mory Barak, co-CEO and co-founder, Lion Real Estate Group.

Positioned directly within Atlanta's new "Pill Hill" medical corridor and enveloped by the Children's Healthcare of Atlanta campus and Emory's Executive Park redevelopment, Briarhill is within a half mile of over $3.2 billion in medical development. The surrounding population is highly affluent with an average household income of $179,270 within three miles and nearby homes listed at more than $1 million, drawing continued Class A retail and medical-focused employment to the vicinity. Selected as the preferred apartment community for Children's Healthcare of Atlanta staff, the property sits within reach of four major employment hubs. According to employment center data from the Atlanta Regional Commission (ARC), these nodes—the Emory/Clifton Corridor, Buckhead, Midtown/Downtown, and Perimeter Center—total more than 550,000 jobs.

"A key driver of our acquisition strategy is targeting markets with strong long-term growth. Briarhill is ideally positioned within one of the Southeast's premier medical and healthcare corridors, with more than 40,000 healthcare professionals employed within a three-mile radius," added Ian Symington, vice president and head of acquisitions, Lion Real Estate Group.