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Atlanta & Southeast  + Apartments  |  November 3, 2020
David Cohen
By: David Cohen

Crown Bay Group Acquires 260-Unit Apartment Community in Southwest Atlanta

Crown Bay Group, along with partners Acorn Property Group and Iron Street Capital have acquired FortyThree 75 Apartments, a 260-unit apartment community in Southwest Atlanta. The seller was not disclosed.

Built in 1974, the community consists of one-, two- and three-bedroom floor plans. It is located nearby a recently completed Walmart Supercenter, Starbucks, Chick-fil-A, Home Depot and a Publix-anchored shopping center. Amenities include a swimming pool, clubhouse, fitness center, dog park, playground, and a MARTA bus stop on site.

“We are taking a cautious yet opportunistic approach to investing, given the current market conditions caused by the COVID-19 pandemic. Assuming we can acquire a property at a risk- adjusted discount to pre-COVID-19 pricing, we believe this is an attractive time to invest in this asset class,” said Steve Firestone, CEO at Crown Bay Group.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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