Constructed in 1990, the property features one- and two-bedroom units with an average unit size of 776 sf. Property amenities include a pool, Jacuzzi, billiards room, fitness center, grill areas, underground parking and a business center. Occupancy level at the time of the sale was 90%.
The property is located near Roswell Road and in close proximity to Interstate 285 and Georgia 400, which provides access to the Central Perimeter and Buckhead submarkets. The property is also a short drive away from healthcare facilities in Northside Hospital, St. Joseph's, Children's Healthcare of Atlanta, and the Emory Clinic.
"The Atlanta market has been a home run market for our investors and associates," says the Connor Group founder and managing partner Larry Connor, in a prepared statement. "We like the long-term prospects here and will continue to look for acquisitions that we believe fit our strengths."
Started in 1992, the Connor Group entered the Atlanta market in 2003 and currently owns and operates 13 apartment communities with an asset value of $283 million. The company owns 44 apartment communities in Atlanta; Dallas; Raleigh, NC; Cincinnati; Columbus and Dayton, OH.
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