
GREA Announces Sale of Elite X-ing for More Than $31 Million
GREA has announced the $31,292,500 sale of Elite X-ing, a multifamily asset in Cobb County.
GREA represented the seller, Read Property Group, in the transaction. The buyer was OREI Azora. Taylor Brown, John A. Topping, Jr., Barden Brown and Mack Leath of GREA managed the sale.
Located at 10 Creste Drive in Decatur, Elite X-ing is a 1989-built multifamily asset featuring 210 units with two-, three- and four-bedroom floorplans averaging 1,213 square feet.
OREI Azora plans to invest $2 million to modernize the clubhouse, pool, landscaping, package lockers, pergola, outdoor kitchen, dog park and fitness center.
“GREA was proud to represent the sellers of Elite X-ing. The new buyer will do well with this property by capitalizing on the thousands of jobs coming to the corridor,” said Taylor Brown, managing director of GREA in Atlanta. “We wish the buyer the best as they execute their renovation plan.”
- ◦Sale/Acquisition