HMI already owns Southern Pines, the apartment community nextdoor. Don Inman, president of HMI, said in prepared statement thatowning the adjacent apartment complex eliminated location risks inthe deal because the company knew the market so well.
This acquisition is MHI's fifth purchase in the metro areawithin the past 12 months. The company now owns and manages morethan 3,000 apartment units in and around Atlanta.
Wynfield built the apartments in 1968 and completed a $3-millionrenovation four years ago. The complex will be renamed KensingtonManor Apartments to emphasize its location across from theKensington MARTA station.
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