Resource Real Estate Grabs Atlanta Property

The 324-unit asset, situated in the city’s northwestern suburbs, includes a mix of one- to three-bedroom apartments across nine buildings.
Tramore Village in Austell, Ga.

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
Swimming pool at Tramore Village

“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