LITHONIA, GA - Variant Commercial Real Estate, L.L.C., a private real estate investment company, announced its latest acquisition of a multifamily property consisting of 280 units located in Lithonia, GA.
“We currently have over 7,000 units in our commercial portfolio. We are excited to add this property to our three other multifamily properties in the Southeast.”
Oaks at Stonecrest has an unrivaled location minutes from thriving metropolitan Atlanta and convenient access to all of Lithonia’s attractions, including the newly built, 1.3 million-square-foot Mall at Stonecrest. The property itself consists of 280 units, averaging 995 square feet, totaling over 270,000 square feet of living space.
Variant’s Managing Director, Dan Wesson, commented, “We currently have over 7,000 units in our commercial portfolio. We are excited to add this property to our three other multifamily properties in the Southeast.”
Variant anticipates great success with this property because of the many value-add opportunities this asset presents. Variant will initiate changes on The Oaks at Stonecrest by making minor exterior renovations, and implementing new property management. CFLane, the new property manager, has a high-touch management strategy to bring the property back to strong occupancy levels that are in line with the submarket.
Variant’s presence in the commercial marketplace has experienced exponential growth as it aggressively purchases properties throughout the nation. The company is excited to add Oaks at Stonecrest to its fast developing apartment portfolio and looks forward to acquiring additional assets in this market and across the Sunbelt Region.
Variant Commercial Real Estate, L.L.C. (Variant), with offices in Tucson, La Jolla, Los Angeles, Phoenix, Dallas, Portland, and New York City, focuses on opportunistic commercial acquisitions in multifamily, self-storage, hospitality assets, and office, obtaining value through strategic capital improvements and enhancing property operations.