August 22, 2019 Comments Off on JV Acquires Five-Property Georgia Apartment Portfolio for $118M Views: 407 Atlanta Metro, Atlanta News, Top Atlanta

JV Acquires Five-Property Georgia Apartment Portfolio for $118M

Carter Multifamily and JV partner RSE Capital Partners acquired a five-property apartment portfolio in Augusta, Canton and Macon. The sales price was $118.2 million. The seller was not disclosed. A team from NorthMarq Capital represented the JV in the transaction.

The properties include Ten35 Alexander, a 200-unit community in Augusta built in 2001; Heritage at Riverstone, a 240-unit community in Canton built in 2001; Falls at Spring Creek, a 296-unit community in Macon; Legacy at River Crossing, a 200-unit community in Macon built in 1986, and Riverstone, a 220-unit community in Macon built in 2012.

Carter plans to reposition the properties to serve the areas’ concentration of retail, hospitality, education and health services professionals. Renovations are expected to include updates to apartment home interiors and common areas, including the pool, clubhouse, and recreational areas.

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