Resource Real Estate Grabs Atlanta Property
- Mar 26, 2018
An investment fund managed by Resource Real Estate has acquired the 324-unit Tramore Village in Austell, Ga. The seller, Cottonwood Residential, picked up the suburban Atlanta apartment community in 2005 for $25.3 million from the Strand Co., according to Yardi Matrix.
Located at 2222 East-West Connector, the community’s nine three- and four-story buildings are positioned on a 13.5-acre parcel 20 miles northwest of Atlanta’s city center. The property is close to the WellStar Cobb Hospital and the Austell Road retail corridor, home to a number of shopping and dining options.
A competitive amenity mix
The asset, constructed in 1999, offers a mix of one-, two- and three-bedroom apartments, ranging in size from 811 to 1,475 square feet. Per Yardi Matrix data from February 2018, the units are 95.4 percent occupied. Community amenities include:
- two swimming pools
- a fitness center
- a tennis court
- a business center
- a playground
- laundry facilities
“We are excited to acquire a community with best-of-market connectivity to where America works and lives,” said Alan Feldman, CEO of Resource Real Estate, in a prepared statement. “Tramore Village is uniquely situated in an area of tremendous capital investment and employment growth that shows no signs of slowing down.”
Images courtesy of Yardi Matrix