Search
 

Crews Working on $23-Mil Apartment Complex in Kennesaw

KENNESAW, GA-Construction is underway on a $23-million apartment complex in Kennesaw, in north Cobb County. The 26-acre project will be near Town Center Mall. It will include 310 apartments in 15 buildings.

By Mark Clothier | Updated on December 21, 2001

KENNESAW, GA-A new apartment complex is going up in Kennesaw, a northern Atlanta suburb. The $23-million project, located near Town Center Mall, is a joint venture between Chicago-based AMLI Residential and Northwestern Mutual of Milwaukee.

The new project will be positioned close to another apartment complex developed by the same partnership, AMLI at Barrett Lakes. Cash flow and sales proceeds from the joint venture are shared as follows: 75% to Northwestern Mutual, 25% to AMLI Residential until certain benchmarks are reached. After the benchmarks are hit, AMLI’s portion of the cash flow and residual interest increases, the company said in a written statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.