Stonemark Expands Management Portfolio
- Jun 01, 2021
Stonemark Management has been selected by owner Quintus Corp. to manage The Rey on Reynolds apartment community in Duluth, Ga.
The entirely new, 286-unit, six-building, Class A property offers a mix of one- and two-bedroom apartments. In a statement, Stonemark officials said they anticipated managing The Rey through a successful lease-up.
“Stonemark has a long-standing relationship with the buyers, and worked diligently to create value in the assets that we have managed for them,” Tiffany Crutchley, vice president of marketing and business development, told Multi-Housing News. “This created value helped to allow them to trade up from a Class C asset to The Rey.”
Last month, Stonemark was tapped to manage Georgia’s Fountain Brook Apartments.
The Rey on Reynolds provides amenities such as a salt water pool with a sun shelf and in-pool loungers. Features and finishes of the apartments include hardwood plank-style flooring, pantry and linen closets, energy-efficient lighting, honed granite countertops and full-size in-unit washers and dryers.
“Lease-ups require a significant time investment and collaboration across multiple departments,” Crutchley added. “There are many moving pieces. However, our team has a plan in place and is looking forward to wrapping up this final leg of this lease-up this summer and pushing rents for renewals.”
Located at 3360 Steve Reynolds Blvd., the three- and four-story apartment community is situated just off I-85 near Pleasant Hill Road. Retail hubs Venture Pointe, Mall Corners Shopping Center and Satellite Square are located an eight- to 12-minute walk away. A 2- to 6-mile drive will take residents to five different parks and recreational areas.