Atlanta-Area Community Gets New Management

29th Street Capital recently acquired the property and plans to completely renovate the interiors.
Knollwood Park Apartments

Stonemark has been appointed to handle management and renovations at Knollwood Park Apartments, a 142-unit property in Lawrenceville, Ga. The asset recently traded in 29th Street Capital’s tenth Atlanta-area acquisition in the past five years.

Completed in 1998, the 10-building community houses a mix of two- and three-bedroom apartment units. Common-area amenities include a playground, clubhouse and laundry facilities. The interiors are scheduled to be completely renovated. According to Yardi Matrix, Knollwood Park was 95.8 percent occupied as of February.

Located at 255 Honeysuckle Circle on 11 acres, the property is seven miles from Interstate 85 and within walking distance of the city’s historic downtown. Gwinnett County Airport is within three miles of Knollwood.

Stonemark continues to expand its management portfolio in the Atlanta area. Last month, the company was appointed to manage a 615-unit community in Riverdale, Ga. The property recently changed hands for $38 million.