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Lane Realty on Multifamily Buying Binge

ATLANTA-After purchasing 1,636 units in five buildings for $76.4 million ($46,669 per unit) in 2000, the investment arm of locally based Lane Co. has closed on two new assets totaling 488 units for $26.16 million or an average $53,607 per unit.

By Shelley M. Johnson | Updated on March 26, 2001

ATLANTA-Lane Realty Advisors is on a roll despite economic clouds in some sectors.

After purchasing 1,636 units in five buildings for $76.4 million ($46,669 per unit) in 2000, the privately-held investment arm of locally based Lane Co. has closed on two new assets totaling 488 units for $26.16 million or an average $53,607 per unit.

And the sister company to Realty Development Co. is scouting for more Southeast acquisitions and in Texas.

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