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Atlanta & Southeast  + Apartments  |  August 22, 2019
David Cohen
By: David Cohen

JV Acquires Five-Property Georgia Apartment Portfolio for $118M

Carter Multifamily and JV partner RSE Capital Partners acquired a five-property apartment portfolio in Augusta, Canton and Macon. The sales price was $118.2 million. The seller was not disclosed. A team from NorthMarq Capital represented the JV in the transaction.

The properties include Ten35 Alexander, a 200-unit community in Augusta built in 2001; Heritage at Riverstone, a 240-unit community in Canton built in 2001; Falls at Spring Creek, a 296-unit community in Macon; Legacy at River Crossing, a 200-unit community in Macon built in 1986, and Riverstone, a 220-unit community in Macon built in 2012.

Carter plans to reposition the properties to serve the areas’ concentration of retail, hospitality, education and health services professionals. Renovations are expected to include updates to apartment home interiors and common areas, including the pool, clubhouse, and recreational areas.

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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