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Lane Buys Midtown Apartment High-Rise

ATLANTA-The new owner plans $8 million in renovations to the 533-unit structure.

By Carl Cronan | Updated on June 24, 2008

ATLANTA-A subsidiary of Lane Co. has purchased the 18-story 710 Peachtree Apartments building, with plans for $8 million worth of renovations. The 533-unit structure also has 34,000 sf of commercial space that houses three restaurants and a small retail store.

The building, which opened in 1952 next to the historic Fox Theater, will get a new name along with a new street-level facade and upgrades to all rental apartments such as appliances, cabinets, counters and fixtures. Lane Strategic Investment did not disclose its purchase price.

“This fits well into our plan to buy and improve value-add properties in prime locations,” Lane Co. CEO Bill Donges said in a release. “Apartments continue to be a bright spot in today’s real estate economy, and these are in a great location.”

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