June 14, 2019
29th Street Capital acquired Cumberland Crossing Apartments, a 286-unit multifamily community in Marietta for an undisclosed price. The property was built in 1973. The seller was not disclosed.
The company plans to implement a capital program to enhance curb appeal, improve amenities and renovate unit interiors. The asset was purchased with an existing Fannie Mae loan, which 29th Street Capital assumed at closing. The acquisition marks the company’s ninth in the Atlanta area.
“We are excited to add this asset to our portfolio,” said Javier Bustillo, senior vice president of acquisitions in Texas and Georgia. “Cumberland Crossing is in a great location within Cobb County, and poised to benefit from the lack of new supply and tremendous growth going on in terms of jobs and population going forward.”
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