A joint venture of Dunross Capital, Sureste Partners and Stonemark Housing acquired Hairstone Woods, a 240-unit multifamily community in Stone Mountain for $20.8 million. The seller was Olive Tree Holdings. Located at 1173 N Hairston Rd., the property is situated on more than 20 acres.
Built in 1984, the asset consists of 28, two-story buildings. Amenities include a pool, picnic area and laundry facility. At the time of the sale, the property was 89% occupied. This is the sixth property acquisition in Georgia over the past 14 months for Dunross.
“We continue to expand in the strong growth areas of Atlanta, as well as Savannah and Augusta. Our goal is to provide our residents a first-class community with best in class property management. Dunross currently has four more properties under contract, and I continue to believe in the state of Georgia as a solid place to invest time and money in multifamily properties,” said Michael Crow, CEO of Dunross Capital.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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