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Concierge Pays $60M for Value-Add Play

NORCROSS, GA-Concierge Asset Management acquires Barrington Court and Barrington Chase with plans to make improvements.

By Natalie Keith | Updated on December 19, 2007

(Read more on the multifamily market.)

NORCROSS, GA-One of Houston and Tiburon, CA-based Concierge Asset Management’s Opportunity funds has acquired an 856-unit class A workforce housing apartment portfolio for just under $60 million. The properties acquired are the 446-unit Barrington Court at 3800 Club Dr. and the 410-unit Barrington Chase at 3820 S. Norcross Tucker.

The seller is Chicago-based Jupiter Realty Co. Cushman & Wakefield Atlanta office associate director of multifamily Nathan Swenson advised the seller in the transaction. Financing for the portfolio was arranged by Brant Smith, VP of Capmark Finance in Houston.

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