Advenir Oakley Capital Closes on Land for Build-to-Rent Development
Advenir Oakley Capital, LLC has closed on 28 acres in the rolling foothills of the Appalachian Mountains for LEO at Cartersville. The new $65 million build-to-rent 246-unit development is less than 40 miles from downtown Atlanta.
Designed by Birmingham-based Nequette Architecture & Design, LEO at Cartersville will feature a mix of one-, two-, and three-bedroom cottages.
Interiors will feature 10-15-foot ceilings, wood-grain tile flooring, washers and dryers, stainless steel appliances, abundant closet space and smart home technology. Units also include private back yards, 24/7 on-call maintenance and optional garage parking.
Birmingham-based Capstone Building Corp. is the general contractor for the project. Ground breaking is scheduled for June, with completion expected by August 2025.
Carl Lutjens of Southland Engineering, Inc. contributed greatly to the due diligence process for all parties. Alex Phillips, director of Multifamily Advisory Group at Cushman Wakefield brokered the transaction on behalf of the buyer and seller.