Stacked 25 stories with a design that resembles a game of Jenga, lilli Midtown is a standout architectural statement on Atlanta’s signature street.
The posh development, which opened its Peachtree Street doors to renters in the summer of 2018, has been lauded since before it was finished for its aesthetics and the innovative way it incorporated an existing, underused parking garage for residents.
Now, the unique JPX Works tower has been sold to a Canadian real estate firm.
On Thursday, Cushman & Wakefield reps announced Toronto-based Oxford Properties Group purchased the property, a third of an acre site comprising 147 high-end apartments and about 4,000 square feet of retail space.
Cushman & Wakefield arranged the sale of the tower, which JPX founder Jarel Portman said he was “tremendously proud of,” according to a press release.
“lilli Midtown exemplifies brilliant architecture and top-notch finishes that attract an elite demographic at the crosshairs of the prominent Peachtree Street and Ponce de Leon corridors,” the release adds.
The ambitious development replaced an abandoned building and didn’t deliver a single new parking space.
It’s also not the first project the JPX firm has offloaded after it proved successful.
In 2015, the joint venture of JPX Works and South City Partners sold Inman Park’s popular Inman Quarter “with the ink barely dry from its newest round of leases,” as the Atlanta Business Chronicle put it.
That 200-unit complex sold for $72.5 million less than two years after it came together for about $46 million.
Cushman & Wakefield reps declined to provide details on how much owners JPX Works, Mariner Group, and ELV Associates charged for lilli Midtown.