Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

STONE MOUNTAIN, GA-Brooklyn, NY-based Collins Group LLC is spreading its presence in metro Atlanta apartment investment circles with its sixth acquisition this year. Collins paid Denver-based Aimco $7.75 million, or $34,598 per unit, for the 224-unit, 20-year-old Weatherly Apartments in this Atlanta suburb.

In a prepared statement, Jay Herman, Collins’ vice president of acquisition and finance, says the company’s asset base value will exceed $150 million by year’s end. Collins’ apartment portfolio totals 3,500 units. The Weatherly acquisition is the company’s second in DeKalb County. Collins previously acquired the 226-unit Retreat apartments from America First Apartment Investors in Doraville.

Herman says the deal was done at this time because “Downtown Atlanta is one of the most dynamic areas in the region for business development and Stone Mountain is one of the largest tourist attractions in the Southeast.” Both locations are “within a short drive of Weatherly–Downtown is only 10 minutes away,” Herman adds.

Other metro properties owned by Collins are the 448-unit Lake Sweetwater Apartments in suburban Lawrenceville and the 786-unit Worthing portfolio in Atlanta.

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?


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.