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$35M East Point Workforce Community is Crown Bay Group’s Biggest Jewel
Atlanta, GA-based real estate investment and asset management firm Crown Bay Group, LLC has purchased Cameron Run, a 284-unit workforce housing community in the Atlanta submarket of East Point, GA, for $35 million.
The off-market transaction marks Crown Bay Group, LLC’s largest investment since its inception in 2013. The property was 93% occupied at the time of the sale.
“Although these are challenging and uncertain economic times, we saw the potential in this property and seized the opportunity to add it to our portfolio,” says Steve Firestone, founder and principal of Crown Bay Group, LLC. “In particular, the attractive loan assumption made this opportunity even more appealing.”
Cameron Run is short drive from Hartsfield-Jackson Atlanta International Airport and Camp Creek Marketplace in an industrial submarket with facilities owned by Amazon, Georgia Pacific, Mondez International and other employers.
- ◦Sale/Acquisition
