Passco Completes Multi-Million Acquisition Of Foreclosed Property in Prime Location
- Nov 05, 2010
Mcdonough, Ga. –Passco Companies LLC completed the acquisition of Sundance Creek, an elegant, Class A, 232-unit townhouse apartment community in metropolitan Atlanta, says company President William H. Winn.
The property, built in 2004 is located at 575 McDonough Parkway in fast-growing McDonough, Ga.
“Passco is moving to expand our holdings in the Southeast, and this transaction is a demonstration of the investment strategy and stringent criteria that have made Passco a leader in our industry,” says Winn. “As the housing market continues to recover, Sundance Creek is advantageously positioned to maximize value and ROI in one of the nation’s most dynamic markets,” he adds. “The property was recently foreclosed on by the seller offering an opportunity to improve management and operations,” he comments.
The one- and two-bedroom units, each with its own private entrance, occupy 26 two-story buildings, grouped in proximity to an attractive clubhouse, resort-style swimming pool and state-of-the-art fitness center in the landscaped grounds. Sundance Creek’s location in Henry County provides easy access to all major transportation arteries and the Hartfield-Jackson International Airport.
Passco plans a series of upgrades to the property, including new flooring and finishes in select units and a premium redesign of the clubhouse interiors. The addition of a grassy dog park will be a special amenity for tenants and their pets.