January 11, 2017
Fogelman Properties, based in Memphis, TN, aligned with Dallas, TX-headquartered Thackeray Partners to acquire a total of 540 multifamily units, divided between Georgia and South Carolina, in two separate transactions. The JV added the 248-unit Addison on Cobblestone at 2400 Cobblestone Blvd. in Fayetteville, GA, and the 292-unit Polos at Hudson Corners at 2211 Hudson Rd. in Greer, South Carolina. Both properties will receive upgrades to common area amenities, as well as to the apartment interiors.
Addison on Cobblestone was sold by Pegasus Residential in Alpharetta, GA. A sales price for the transaction was undisclosed, with public records assessing the asset at $10.1 million. Pollack Shores sold Polos at Hudson Corners for a reported $28.5 million to Fogelman and Thackeray Partners.
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