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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.”
Adley City 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.
- ◦Sale/Acquisition
