Source: Frankforter Group
ATLANTA, GA - Frankforter Group has acquired the Garden Walk Apartments, a class B apartment community in Atlanta. The property consists of 240 rental apartments located in Williamsburg Park, a few miles south of the Hartsfield–Jackson Atlanta International Airport, a submarket that has exhibited strong fundamental trends since 2014.
The 29-acre property provides excellent connectivity to many of Atlanta's major employment centers, economic drivers, and retail hubs.
Frankforter Group will invest over $2M to enhance the property, including the common area amenities, such as an automated delivery locker system, clubhouse upgrades, pool area renovations, and sports courts revamping.
This acquisition further fuels the group's expansion in the greater Atlanta market with some more acquisitions in the pipeline for Q1.
Stephane Benalal, Director of Acquisitions says, "We have been very active in the Atlanta market in the last few years and we are very excited to increase the group's portfolio in one of the country's growing markets. Garden Walk fits perfectly within our value-add strategy. Our approach for this community is to invest a significant amount of capital to enhance the tenant experience and bring out the full potential in this property."