LITHONIA, GA-Variant Commercial Real Estate reports it has acquired a 280-unit multifamily property in the Atlanta suburb of Lithonia.
The La Jolla, CA-based private real estate investment firm, acquired the Oaks at Stonecrest, which totals more than 270,000 square feet of living space. No terms of the transaction were disclosed. The units average 995 square feet in size.
Variant plans to make minor exterior renovations and has retained CFLane as the new property manager for the Oaks at Stonecrest in order to bring the property back to strong occupancy levels that are in line with the submarket, company officials state.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
