COLUMBUS, GA - StoneRiver Company is pleased to announce the acquisition of Hampton Place Apartments, a 390-unit multifamily community in Columbus, Georgia. Hampton Place is fully amenitized and includes two beautiful swimming pools.
Located in the desirable Northeast submarket, the property is wedged between prime retail and attractive single family housing. In addition, the property is one of the closest communities to the Corporate Ridge Business Park, where 6,000 private sector workers are employed for companies like AFLAC, TSYS, NCR, Blue Cross/Blue Shield, Cessna Aircraft and Panasonic-Lithium Division.
According to Josh Mandell, StoneRiver’s Director of Investments, “Hampton Place is a perfect fit with our strategy to acquire attractive assets in growing areas, and we are particularly enthusiastic about the diversity of strong employment providers in Columbus.”
StoneRiver is acquiring the property from the original owner and is planning a moderate management and physical re-positioning. Exterior repairs will be made to roofs, siding and parking, and interior upgrades will be made to flooring, kitchens, lighting and bathrooms.
Capital One provided debt financing via a Fannie Mae loan origination, and Cushman Wakefield brokered the transaction. StoneRiver is a full-service real estate company based in Birmingham, Alabama. The Company invests in, develops and manages a wide variety of real estate holdings throughout the Southeast.