(To read more on the multifamily market, click here.)
DECATUR, GA-Brooklyn-based Collins Group LLC has acquired the734-unit Treecrest Apartments for $39 million and changed its nameto Crestview to reflect the new ownership.
The seller was Atlanta-based Wilwat Properties and Cushman &Wakefield brokered the deal. Financing was provided by the Atlantaoffice of GE Commercial Credit. The complex is situated on a65-acre site and includes amenities such as swimming pools, tenniscourts, a fitness center with indoor pool, heated whirlpool spa andtwo racquetball courts. Units with one bedroom and one bathroomrange in size from 550 sf to 885 sf and rent for $600 to $730.Units with two bedrooms and two and one-half bathrooms range insize from 1,060 to 1,354 sf and rent for $770 to $960.
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