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The new owners plan to spend approximately $3.2 million on a repositioning strategy, including renovation of common areas, amenities, and unit interiors.
Major employers locating in the Alpharetta/Roswell area are all great amenities that make the property attractive, says Kevin Geiger, vice chairman at CBRE.
Varden Capital Partners repositioned the assets following a bulk purchase, and made healthy profits for investors while leaving a great value-add path ahead for Blue Rock, says Cushman & Wakefield's Tyler Averitt.
“The property's strategic location provides Atlanta's best overall access to the major employment centers of Buckhead, Midtown, Downtown and Cumberland/Galleria,” says CBRE's Kevin Geiger,
"Keith is known for his collaborative approach, and is well-respected for his strategic thinking," says Rick Carruthers, Century's regional president, southeast region.
The Tampa-based multifamily owner and operator has acquired a total of three properties in the suburbs of Orlando and Atlanta, as well as an apartment complex in Charleston, SC. A
The US Bureau of Labor Statistics estimates that the number of freelancers, temps, independent contractors and solopreneurs will grow from 30 percent of the workforce today to 40 percent of the total workforce over the next five years.