Collins Expands Portfolio With $39M Buy

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DECATUR, GA-Brooklyn-based Collins Group LLC has acquired the 734-unit Treecrest Apartments for $39 million and changed its name to Crestview to reflect the new ownership.

The seller was Atlanta-based Wilwat Properties and Cushman & Wakefield brokered the deal. Financing was provided by the Atlanta office of GE Commercial Credit. The complex is situated on a 65-acre site and includes amenities such as swimming pools, tennis courts, a fitness center with indoor pool, heated whirlpool spa and two racquetball courts. Units with one bedroom and one bathroom range in size from 550 sf to 885 sf and rent for $600 to $730. Units with two bedrooms and two and one-half bathrooms range in size from 1,060 to 1,354 sf and rent for $770 to $960.