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"With its current occupancy rate of 98%, strong fundamentals, along with corporate and business expansion, we believe this acquisition is an excellent opportunity to increase our presence in Georgia, a target area for our firm,” says Albert Lord III, founder and CEO of Lexerd.
In the first deal, recently formed LBX Investments of Los Angeles has purchased Alfaya Commons, a 130,811-square-foot shopping center at 11792-11970 East Colonial Drive from Regency Centers in a deal valued at $19.8 million.
“I've seen firsthand the stimulus of tax credits on the affordable housing industry and how they help to create quality homes," says Monarch Private Capital's Sean Cammann.
Old Fourth Ward's booming growth has been spurred largely by the Atlanta BeltLine, which is responsible for 30,000 permanent jobs and nearly $10 billion in economic development.
The hotel benefits from the area's wide variety of corporate demand generators, dining and shopping options, says Apple Hospitality REIT's Nelson Knight, executive vice president and chief investment officer.