ATLANTA, GA – The commercial real estate syndication firm, Viking Capital has acquired a 368-unit apartment community in Stockbridge, GA.
The 351,640-square-foot multifamily property, Marbella Place, features a resort-style pool, two playgrounds, a clubhouse and detached garages.
Completed in 1999, Marbella Place was fully-renovated by the seller in 2017.
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"With the acquisition of Marbella Place, Viking Capital adds to its portfolio a well-maintained property near the south Atlanta industrial submarket, one of the fastest growing industrial corridors in the nation," states Vikram Raya, CEO of Viking Capital.
Raya adds, "With a significant portion of the rent roll positioned at below market, Viking Capital can operate efficiently, upgrade select amenities and unit interiors, bring rents in line with the overall market and take advantage of the surging growth in Stockbridge and Henry County."
The recent Atlanta-area acquisition adds to Viking Capital's multifamily portfolio. The firm currently owns and operates more than 4,000 units, valued at more than $500 million.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
