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Beacon Real Estate Group Completes Off-Market Buy of LaGrange Multifamily
Coral Gables, FL-based commercial real estate firm Beacon Real Estate Group has completed its phased acquisition of the brand-new Exchange at 1105 apartment community located southwest of Atlanta in LaGrange, GA.
The purchase is part of Beacon Real Estate Group‘s pre-stabilized strategy: provide a quick exit to developers shortly after obtaining the property’s certificate of occupancy to maximize the developer’s internal rate of return. Beacon Real Estate Group closed on the first phase in March 2022 and the second phase on March 16, 2023. The deal was purchased on an off-market basis.
“This was a rare chance to forward-purchase a brand-new apartment community in a prime GA submarket,” said Beacon Real Estate Group CEO Richard Kulick. The property is 10 minutes from Georgia International Business Park, fourth-largest business park in the US.
Beacon Real Estate Group owns more than 7,000 multifamily units and nearly one million square feet of office and retail properties in the Southeast.
- ◦Sale/Acquisition
