Robbins Electra's portfolio now includes three multifamily communities in the Atlanta area, totaling 1,669 apartment units, including Landmark at Mountainview in Stone Mountain, GA, which it already owned. Robbins Electra's national portfolio includes more than 22,700 multifamily units totaling over $2.5 billion in value.

Located at 100 Camellia Lane, Belle Vista features one-, two- and three-bedroom multifamily units in three-story buildings. Amenities include a swimming pool, soccer field, business center, clubhouse, movie room, fitness center, barbecue areas and dog park.

The multifamily community is set among landscaped grounds and located near DeKalb Medical Center, Interstate 20 and Downtown Atlanta. The property is 91% occupied with average monthly rents of approximately $940.

According to the Atlanta Regional Commission, the region's population has rapidly grown and added 69,200 new residents from 2015 to 2016, making it to the largest single-year population increase since the Great Recession. Atlanta has also experienced strong employment growth by adding 77,000 jobs in 2016. A multifamily asset in Chamblee, GA recently traded hands for $36 million.

“While the two major markets of Atlanta and Miami account for more than 50% of the region's commercial real estate investment, markets such as Charlotte and Nashville are growing talent hubs and provide tremendous value for occupiers—and possess new potential opportunities for investors,” Dan Wagner, CBRE Southeast director of research, tells GlobeSt.com. “Prospects for future expansion are sunny—the South's growing population base and expanding labor market, combined with relatively low overall occupancy costs will continue to attract both investors and occupiers to the region.”

Multifamily investors are looking at a new financing tool. Get all the details in my recent column.

ATLANTA—Ashley Vista, a 312-unit multifamily community in the Atlanta, GA suburb of Lithonia, has traded hands. The sale price: $31.11 million.

Robbins Electra acquired the asset from Bridge Properties. Robbins Electra will execute a multimillion-dollar property renovation and rebrand the community Belle Vista, upgrading apartment interiors and enhancing the community's amenities.

The deal marks Robbins' second multifamily acquisition this year in Atlanta. Earlier this month the company acquired Marbella Place in Stockbridge. The company has three more Atlanta multifamily communities under contract to close in coming months.

“Atlanta's strong job market and continued population growth have created healthy demand for apartments, particularly in the 'middle-market' space where Robbins Electra operates,” says Joe Lubeck, CEO of Robbins Electra. “Our multifamily properties cater to professionals and working families who aren't quite ready for home ownership, but still want to live in nice, reasonably priced communities with plenty of conveniences and amenities.”

Robbins Electra's portfolio now includes three multifamily communities in the Atlanta area, totaling 1,669 apartment units, including Landmark at Mountainview in Stone Mountain, GA, which it already owned. Robbins Electra's national portfolio includes more than 22,700 multifamily units totaling over $2.5 billion in value.

Located at 100 Camellia Lane, Belle Vista features one-, two- and three-bedroom multifamily units in three-story buildings. Amenities include a swimming pool, soccer field, business center, clubhouse, movie room, fitness center, barbecue areas and dog park.

The multifamily community is set among landscaped grounds and located near DeKalb Medical Center, Interstate 20 and Downtown Atlanta. The property is 91% occupied with average monthly rents of approximately $940.

According to the Atlanta Regional Commission, the region's population has rapidly grown and added 69,200 new residents from 2015 to 2016, making it to the largest single-year population increase since the Great Recession. Atlanta has also experienced strong employment growth by adding 77,000 jobs in 2016. A multifamily asset in Chamblee, GA recently traded hands for $36 million.

“While the two major markets of Atlanta and Miami account for more than 50% of the region's commercial real estate investment, markets such as Charlotte and Nashville are growing talent hubs and provide tremendous value for occupiers—and possess new potential opportunities for investors,” Dan Wagner, CBRE Southeast director of research, tells GlobeSt.com. “Prospects for future expansion are sunny—the South's growing population base and expanding labor market, combined with relatively low overall occupancy costs will continue to attract both investors and occupiers to the region.”

Multifamily investors are looking at a new financing tool. Get all the details in my recent column.