SANDY SPRINGS, GA—Oak Coast Properties andIMG report they have acquired the LegacyKey Apartments community here for $30 million, includingcosts, from DRA Advisors LLC.
The Legacy Key Apartments property totals 350 units and consistsof one-and-two-bedroom apartment units set in both townhome andgarden style floor plans. Units average 959 square feet withamenities that include sunrooms or screened porches, fireplaces,and washer/dryer connections. Community amenities includecontrolled access gates, a clubhouse, business center, fitnesscenter, two swimming pools, two lighted tennis courts, a gazebo,picnic and grilling areas, a car care center and a laundryfacility. The 30-acre asset was originally built in 1979.
Los Angeles-based Oak Coast Properties says it will employ avalue-add investment strategy, including property rebranding andrenovation upgrades totaling more than $2 million aimed atmaximizing rent potential and yield.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
