MEMPHIS, TN - MAA announced that it has completed the acquisition of Allure at Brookwood, a 349-unit high-end urban multi-family apartment community located in the Buckhead sub-market of Atlanta, Georgia.
Allure at Brookwood is strategically located between several of Atlanta's largest office submarkets including Midtown, Buckhead and Central Perimeter, which combined, total more than 50 million square feet of office space and are home to a number of the Atlanta area's major employers. In addition, the property is located in very close proximity to several major medical employment centers within the Piedmont Medical Center, including the Shepherd Center, a nationally recognized rehabilitation center.
Allure at Brookwood was developed in 2008 and consists of two six-story mid-rise buildings joined by a five-level structured parking deck. The property offers residents a wide range of amenities including a resort-style pool with cascading fountains, a 50-meter lap pool, outdoor stone terrace with grill and an expansive fitness facility and business center. The apartment homes boast nine foot ceilings with deluxe crown molding, cherry cabinetry, arched doorways and stainless steel appliances.
Commenting on the announcement, Al Campbell, EVP and CFO said, "We are pleased with this high quality addition to our Atlanta portfolio and we expect this new investment will provide attractive long-term value for our shareholders."
MAA is a self-administered, self-managed apartment-only real estate investment trust, which currently owns or has ownership interest in 49,094 apartment units throughout the Sunbelt region of the U.S.
Source: MAA / #Multifamily #Apartments