Source: Napali Capital / #Apartments #Multifamily
FAYETTEVILLE, GA - Napali Capital, a leading Texas-based real estate investment company, announced the acquisition of Brandywine at Lafayette Apartments in Fayetteville, Georgia. The property is a Class B 113-unit multifamily property comprised of one-and two-bedroom floor plans. This acquisition is the fourth property in the Atlanta area.
As part of its plan to rebrand the property as the Residences at Towne Crossing, Napali Capital will invest nearly $540,000 to implement a comprehensive renovation program to modernize units, refresh landscaping and address minor amenity improvements to continue to enhance the lifestyle for residents. The company has engaged Strategic Management Partners to manage the property.
"Brandywine at Lafayette is a quality asset in an area of consistent economic and population growth," said Napali Capital co-founder and Managing Partner, Thomas Black, M.D. "And since the inventory in the area is limited, it allows for a very favorable outlook for our investors."
Brandywine at Lafayette is located 25 miles south of Atlanta. Its proximity to Georgia State Roads 54 and 85 allows residents quick access to Atlanta for a variety of entertainment and retail options and numerous employment centers including Emory University and Healthcare, Delta Airlines, The Home Depot, WellStar Health Systems, AT&T, UPS, Northside Hospital, Piedmont Healthcare, Marriott International and Children's Healthcare of Atlanta. Nearby Peachtree City also is home to nine of the county's 10 largest employers.
Napali Capital focuses its investments in areas with strong economy, high job growth and low unemployment. The area in which Brandywine at Lafayette is located experienced a nearly 30 percent growth in population since 2000 and is forecasted to experience continued growth.