The Square One mixed-use building at the corner of Roswell Road and Hammond Drive in Sandy Springs has sold for $59.2 million.

Audubon, a multi-family real estate management company based in Peachtree Corners, bought the 203-unit building from the original developer Kaplan Residential, a multi-strategy real estate development firm with offices in Sandy Springs and Miami. Angelo Gordon, a global investment firm based in New York, is also said to be part of the new ownership. 

The Square One apartments in Sandy Springs is among the local projects that received a tax abatement from the Development Authority of Fulton County. (Special)

Kaplan announced the sale on Friday. The Development Authority of Fulton County previously confirmed the sale was pending in June after approving the transfer of tax-exempt bonds and associated tax benefits to the new owners.

Kaplan Residential had bought the approximately two-acre parcel for Square One at 6050 Roswell Road NE in 2014 for $5.6 million. The midrise building today includes around 200 apartments and 10,000 square feet of retail space.

Bob Pepalis

Bob Pepalis covers Sandy Springs for Reporter Newspapers.