X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Shoptaw & Garrard added to its Capital Master Fund portfolio with the $22.5 million purchase of Amber Chase, a one-year-old, 352-unit apartment complex from Moore & Murphy Co., the asset’s developer.

The property is located in Henry County, south of the city and the fastest growing county in metro area.

The acquisition is the sixth multifamily asset for the fund, which originated in December 1999. Its capital goal is $100 million and this purchase takes it over the top to $101.3 million, Shoptaw & Garrard’s managing director Dennis Pemberton tells GlobeSt.com. The fund will add a contracted Greensboro, NC asset in the $12 million to $15 million range to the portfolio before closing it.

The life of the Capital Master Fund portfolio is about seven years with the average hold at five years, Pemberton says. The firm will announce its new fund, Shoptaw & Garrard Multi-Family Partners Fund, later this week.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.