A 534-unit apartment tower in the heart of Midtown Atlanta changed hands this month, and not by choice. Liquid Capital Real Estate Investments, a New Jersey-based investment firm, is no longer the owner of Crest on Peachtree, the 18-story building at 710 Peachtree St. that it bought for $107.5 million in 2022. An affiliate of lender Arbor Realty Trust took the property back through foreclosure, according to the Atlanta Business Chronicle, as reported this week by trade outlet Connect CRE.
It’s the second time in roughly two years that Liquid Capital has lost an Atlanta apartment complex this way. In 2024, the firm lost The Optimist Lofts, a 212-unit mid-rise in the Piedmont Heights neighborhood, after lender LoanCore Capital foreclosed on a $48 million loan tied to that property, according to Bisnow.
Both deals trace back to the same window: 2022, when apartment values across the Sun Belt were still near their peak and lenders were extending large loans against properties bought at record prices…