ATLANTA, GA - Audubon Communities, an Atlanta based multi-family owner and operator, announced that it has recently acquired the Birch Grove and Sycamore Chase Apartments in Decatur, Georgia, in a joint venture arrangement with Five Mile Capital, LLC, of Stamford, Connecticut.
The properties, which collectively contain a total of 332 units, are located one mile from each other on Valley Brook Road in Decatur, Georgia. Audubon Communities will manage the property and oversee a major renovation and repositioning of the two communities.
This acquisition marks the fourth Atlanta apartment community acquired by Audubon Communities and affiliates of Five Mile Capital, LLC in the past sixteen months.
Audubon Communities is a real estate owner and operator that specializes in the redevelopment and repositioning of multi-family assets. Since 2003, Audubon has sought to achieve highly attractive risk-adjusted returns by acquiring and turning around underperforming assets. Investing for its own account and select capital partners, Audubon targets East Coast multifamily opportunities with total capitalizations that range from $5 million to $100 million.