LaGrange, Ga.—The Kalikow Group, on behalf of KEP LaGrange LLC and EYC Cos., sold the 236-unit, garden-style apartment community Woodland Trail in LaGrange, Ga., for $22.8 million to an undisclosed buyer.
Located on North Davis Road, the 20-acre property was constructed about six years ago and offers one-, two- and three-bedroom apartments. Units include designer kitchens with maple cabinets and granite countertops, 9-foot ceilings and walk-in closets. Residents can also enjoy amenities such as a fitness center with a playroom, a business center, and a swimming pool with a screen porch terrace for poolside dining and socializing. For outdoor activities, the property offers a four-acre woodland preserve with scenic nature trails.
“We have been very encouraged by the reception this quality asset received in the market,”said Edward Kalikow, president & CEO of The Kalikow Group. “This is a prime example of our successful development model and we continue to look for additional opportunities for investment throughout the Southeast.”
The property was initially built as a result of the growing housing demand by existing residents and the thousands of workers at Kia Motors Corp.’s $1.2 billion auto manufacturing facility that opened in 2011. The two-million-square-foot, 2,200-acre plant is located just over 10 miles from the Woodland Trail property and manufactures about 300,000 cars per year. The plant and suppliers have created approximately 6,000 jobs in the west Georgia and Alabama region.
Image courtesy of Woodland Trail Apartments