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Fogelman Properties Snags 150-Unit MF Property in Gainesville

Multifamily investment and property management company Fogelman Properties has acquired Legacy at Lanier, a 150-unit multifamily property in Gainesville, GA. The sales price was not disclosed.

Built in 2004, the 150-unit multifamily community offers one, two and three-bedroom apartment homes. The newly acquired property is 98% occupied with rental rates ranging from $850 to $1,275. Legacy at Lanier will undergo community upgrades including the addition of a new fitness center, renovations to the clubhouse, pool area and all unit interiors.

Fogelman acquired Legacy at Lanier through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the 12th acquisition for the Fogelman-Thackeray partnership, now totaling more than 3,000 units.

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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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