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Aslan Continues Spree With $23M Acquisition

ATLANTA-Aslan Realty Group acquires the 348-unit Ridge at Crescent Cove Apartments, its fourth acquisition in the past 90 days.

By Natalie Keith | Updated on November 30, 2007

(Read more on the multifamily market.)

ATLANTA-Irvine, CA-based Aslan Realty Group has acquired the 348-unit Ridge at Crescent Cove Apartments at 3495 Jones Mill Rd. for $23.25 million. The seller was King Ashley Run Apartments LLC.

Aslan senior vice president of acquisitions Jay Burns tells GlobeSt.com that the complex was part of a three-property portfolio acquired through an off-market transaction facilitated through Greg Engler, of Engler Financial Group. Earlier in the week Aslan–in a joint venture with Santa Barbara, CA-based Somera Capital Management–acquired the 350-unit Legacy Key apartment complex in Sandy Springs for $28.1 million. Earlier in November, Aslan acquired the 760-unit Commons Apartments at 7600 Roswell Rd. in Sandy Springs for $60.25 million in a joint venture with JP Morgan’s Real Estate Principal.

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