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Value-Add Play Gives Lane, Griffin 384 Units

MARIETTA, GA-Lane Co. and Griffin Realty Advisors plan extensive renovations to the River Heights apartment complex. The sales price neared $41 million.

By Natalie Keith | Updated on December 10, 2007

(Read more on the multifamily market.)

MARIETTA, GA-Atlanta-based Lane Co. and Griffin Realty Advisors have acquired the 384-unit River Heights Apartments at 3702 River Heights Crossing for $40.7 million. The seller was Waterton Associates LLC.

Located off Columns Drive, the complex borders the Chattahoochee National Forest and the Atlanta Country Club. It is one of a few rental communities in the area, and is located near Sope Creek Elementary, Dickerson Middle School and Walton High School. The complex has one-, two- and three-bedroom units, including some with dens or lofts.

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