Rent Growth Drives $50M Atlanta MF Buy

ATLANTA—As multifamily investors keep a close eye on rent growth, The Park at Vinings has received a nod from Cocke Finkelstein Inc. (CFI). The full-service multifamily investment firm just snapped up the 484-unit, garden-style apartment community in Smyrna, GA, for $49.5 million.

“The Park at Vinings will be an outstanding addition to our portfolio,” Byron Cocke, CEO of CFI and CFLane, the apartment management subsidiary of CFI that will manage the asset, tells GlobeSt.com. “This property has performed extremely well in recent years, and the metro Atlanta apartment market should have several years of additional rent growth and increasing occupancy rates on the horizon.”