Praedium Buys Suburban Atlanta Apartments
- Nov 13, 2017
The Praedium Group has acquired Reserve Decatur, a 298-unit apartment property in Decatur, Ga., for an unspecified price. Atlantic Realty Partners developed the community, completing it in 2016.
Reserve Decatur includes one-, two-, and three-bedroom units ranging from 620 square feet to 1,555 square feet. Unit interiors feature nine-foot ceilings, built-in Bluetooth sound systems, digital thermostats, and various sustainable features, such as low-flow plumbing fixtures and low-e windows.
Common amenities include a two-story clubhouse, cyber café, conference room with kitchen area, poolside outdoor kitchen with cabana bar, game lounge and a rooftop entertainment lounge. There is also a second outdoor kitchen cabana with outdoor fireplaces and TVs, along with a dog park and spa, and a 1.2-acre green space.
Inside the area
Demand for housing such as Reserve Decatur will continue to be bolstered by metro Atlanta’s growing population, said Kelsey Durels, associate of the Praedium Group. The region’s growth has exceeded the national average since 2010, according to the Census Bureau, is expected to continue to do so over the next five years.
New York-based Praedium Group is a privately held real estate investment firm specializing in underperforming and undervalued assets nationwide. Investors such as public and corporate pension funds, financial institutions, insurance companies, foundations and endowments have participated in the commingled funds and separate accounts sponsored by Praedium.