Luxury Community Changes Hands in Atlanta
- Jun 29, 2016
Atlanta—GoldOller Real Estate Investments recently acquired Westhaven at Vinings Apartments, a 610-unit apartment community in Atlanta’s historic Vinings district in Buckhead. GoldOller acquired the asset for from TA Associates Realty for $91 million, or $150,000 per unit ($155 per square foot).
Westhaven at Vinings is a gated, resort-style community located on approximately 52 acres at 3000 Paces Walk N.W. The property incorporates 51 three-story buildings with one-, two- and three-bedroom residences averaging 958 square feet, according to Yardi Matrix. Each unit has been recently upgraded and features vaulted ceilings and fireplaces, while property amenities include four swimming pools, an athletic club, outdoor kitchens, business center, treetop club house, resident lounge and 920 parking spaces. The property is managed by GoldOller Real Estate Investments.
“Westhaven at Vinings caters to discerning residents seeking luxury rental homes and a very active, carefree lifestyle in one of Atlanta’s best locations. We are thrilled to include this exceptional property in our portfolio and especially excited to welcome the talented and enthusiastic Westhaven at Vinings site team to GoldOller,” said Richard Oller, GoldOller chairman.
GoldOller plans to introduce its signature GO LIFESTYLE service at the property, which includes complimentary fitness classes, health and nutrition programming and host of resident events. “Our primary objective is making sure our residents feel the love and enjoy every aspect of their magnificent homes while enjoying all of our amenities and sharing in an extraordinary community experience,” said Jill Hinton, vice president of operations at GoldOller.
Westhaven at Vinings marks GoldOller’s tenth apartment acquisition in the Atlanta market since 2012, bringing its local portfolio to more than 3000 units.
“We have had great success in the Atlanta market. Our residents continually reward us for the quality of our services and communities by choosing GoldOller when there are so many other options. Our Atlanta occupancy, cash flow and investment returns have been exceptional, and, as relative newcomers to the market we could not be more pleased. We are confident that the trend will continue with the addition of Westhaven at Vinings,” said Jake Hollinger, partner & COO, GoldOller.
Photo courtesy of Westhaven at Vinings website