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Aslan Realty Acquires 760 Units for $60M

SANDY SPRINGS, GA-In its second deal in Atlanta in 45 days, Aslan Realty Group acquires the Commons Apartments for $60.25 million.

By Natalie Keith | Updated on November 05, 2007

(Read more on the multifamily market.)

SANDY SPRINGS, GA-Irvine, CA-based Aslan Realty Group has acquired the 760-unit Commons Apartments at 7600 Roswell Rd. for $60.25 million. The property was acquired in a joint venture with JP Morgan’s Real Estate Principal Investment Group. The seller was Kings Morgan Falls Apartments LLC.

Aslan Realty Group senior vice president of acquisitions Jay Burns tells GlobeSt.com that the transaction was an off-market deal facilitated through Greg Engler, of Engler Financial Group. The company was attracted to the deal because of its strong location. “It has a competitive advantage due to the unique nature of the asset which sits on approximately 125 acres with a 25-acre lake and views of the Chattahoochee River,” he says.

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