ROSWELL, GA – 29th Street Capital (29SC), a privately held real estate operator, has acquired Lake House at Martin & # 39; s Landing, a 300 unit Class B asset in the North Fulton submarket of Atlanta. 29SC plans to add value to the property by completely refurbishing 282 apartments previously improved by the seller and 18 classic units. The company will also upgrade the exterior and equipment.
"This is 29SC's third acquisition in Atlanta in the last 12 months and will be a strong addition to our Atlanta portfolio, which has now grown to over 700 units," said Javier Bustillo, 29SC senior vice president of acquisitions. "I am very excited to add this unique asset to our current portfolio in Atlanta and look forward to our continued expansion in this market."
The Lake House at Martin & # 39; s Landing is located at 1500 Harbor Landing, approximately 23 miles northeast of downtown Atlanta. Of the three waterfront shared flats across Metro Atlanta, two are on the Chattahoochee River. This makes Lake House at Martin & # 39; s Landing the only community with direct access to a lake in all of Atlanta.
Lake House at Martin & # 39; s Landing offers the most spacious two, three, and four bedroom condos in any master planned community. Residents have access to 53 acres of Martin Lake and an uninterrupted 2.4 mile hiking trail around the lake.
"The Lake House on Martins Landing is in the middle of one of the fastest growing corridors between North Fulton and the Central Perimeter employment centers," added Royce Baptist, 29SC vice president in Atlanta. "Between the abundance of jobs and the proximity to Martin Lake, this estate offers an excellent balance between work and lifestyle."
The transaction closed on Wednesday, September 30th. Neither the seller nor the selling price was published.
Source: 29th Street Capital