The Preiss Company Acquires Georgia Student Housing Asset

The community is located near Kennesaw University.

The property comprises a number of cottage-style apartment buildings. Image courtesy of Cushman & Wakefield

The Preiss Co. has acquired The Haven at Kennesaw, a cottage-style apartment community at 1805 Shiloh Rd. NW in Kennesaw, Ga., near the campus of Kennesaw State University. Cushman & Wakefield arranged the sale and represented seller Henssler Capital. The deal closed on March 21.

The Haven at Kennesaw is a 32-unit, 148-bedroom, pet-friendly community. The cottages feature either four or five bedrooms, and range in size from 1,920 to 2,430 square feet. Features of the apartments include private bedrooms and bathrooms, valet trash, ceiling fans, large closets and patios or balconies. A pool with sundeck is among the prominent common-area amenities.

Top performer

The Haven at Kennesaw was unveiled in 2018 at full occupancy and has since matched its opening occupancy levels and generated substantial rent growth, Cushman & Wakefield said in a statement. These numbers reflect the booming enrollment increase at Kennesaw State University, the firm said in the statement.

Situated 28 miles northwest of Downtown Atlanta, Kennesaw is near Swift-Cantrell Park and Smith-Gilbert Gardens, Town Center at Cobb and the Smithsonian-affiliated Southern Museum of Civil War and Locomotive History. Interstate 75 and Cobb Parkway are located nearby, offering easy commutes to Atlanta’s downtown, as well as Dobbins Air Reserve Base in nearby Marietta.

Travis Prince, Victoria Marks, Travis Presnell and Shawn Lubic of Cushman & Wakefield represented the seller. Earlier this month, a joint venture commenced construction on a 97-unit build-to-rent townhouse community in the Atlanta-area city of Cartersville, Ga.

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