Redwood Capital Acquires GA, TX Apartments in Expansion Push
Redwood Capital Group, a multifamily investment manager headquartered in Chicago, has acquired Adley City Springs, an apartment community in the Atlanta suburb of Sandy Springs, GA, and Ascent Cresta Bella in San Antonio. Deal terms weren’tdisclosed.
Redwood began the year with $1.7 billion in apartment assets under management and has a strategic plan to double that total over the next five years. The company expects to complete acquisitions totaling $600 million in the Southeast, Southwest and Midwest in 2021.
“We look forward to continuing to expand our presence in the apartment market in 2021 and beyond,” said David Carlson, Redwood managing partner. “As demonstrated by these acquisitions, we view Texas and Atlanta as important markets in our ongoing expansion.”
AdleyCity Springs and Ascent Cresta Bella were acquired in separate transactions and reflect what Redwood calls its commitment to aggressive but strategic growth in the Southeast and Texas.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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