Snoopy Helps Local Investor Conquer Johns Creek
- Oct 14, 2015
The Shoptaw Group announced its first acquisition in the Atlanta suburb of Johns Creek – the 228-unit St. Andrews luxury multifamily community. The Atlanta-based privately-held investment company engaged Patterson Real Estate Advisory Group to help procure the acquisition financing for the property through MetLife.
The property features one- to three-bedroom apartments with up to two bathrooms, ranging from 1,038 to 1,476 square feet. The two-bedroom units are available in two different layouts. The list of amenities at St. Andrews includes a resort-style pool with sundeck, grilling area, controlled access gate, a clothes care center, dog park, lighted tennis courts, a fitness center, and a car care center.
MetLife provided approximately $27 million in floating rate financing, which will help TSG complete its capital improvement plan and enhance the property’s cash flow performance over the next few years. The new ownership plans to execute a comprehensive renovation of the community’s interior units to bring the property up to the characteristic high living standard of the surrounding area.
Photo credit: Patterson Real Estate Advisory Group