AVENTURA, FL - Trade Street Capital, a leading private investment firm, announced today that it has completed the acquisition of The Glens at Mill Creek, an upscale 259-unit apartment community located in the greater Atlanta, Georgia MSA. The property was developed in 2001 and is strategically located adjacent to the Mall of Georgia, Metro Atlanta's largest retail center. Property amenities include a clubhouse with a 4,000 square foot commercial quality fitness center, detached garages and a resort-style swimming pool. The apartment homes boast nine-foot ceilings with crown molding, patios/balconies, walk-in closets and optional sunrooms.
Commenting on the announcement, Ryan Hanks, Managing Director of Trade Street Residential said, "This acquisition fits well with our strategy to invest in Class A assets in Sunbelt markets with growth potential. The Atlanta market is home to numerous world-class companies and is a national hub. We see this investment as a terrific opportunity of adding a high quality asset to our portfolio in a very desirable submarket".
The acquisition was funded by a Trade Street Capital fund while CW Capital helped arrange the agency financing.
This is Trade Street's third acquisition in recent months. Through their latest fund they have acquired a 240-unit Class A asset located in Augusta, Georgia and a 191-unit Class A asset located in Germantown, Tennessee.
Trade Street Capital is a private, U.S.-based investment firm with a focus on core multi-family real estate. Through its subsidiary Trade Street Residential the firm is actively acquiring and developing apartment communities throughout the Sunbelt. Since the group's inception, the firm, through its two current funds, has invested more than $200,000,000 million of equity capital.
Source: Trade Street Capital