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Steadfast Spends $49M on Atlanta Multifamily

ATLANTA—Steadfast spent $99 million on the 696-unit Residences at McGinnis Ferry in Suwanee—30 miles northeast of Downtown Atlanta. Now, the firm is moving into Kennesaw. Get all the deails.

By Jennifer LeClaire | Updated on November 26, 2014

ATLANTA—Steadfast Apartment REIT just laid down $49 million to buy 1800 Barrett Lakes, a 500-unit apartment community in Kennesaw, GA, an Atlanta submarket. Last month, Steadfast spent $99 million on the 696-unit Residences at McGinnis Ferry in Suwanee—30 miles northeast of Downtown Atlanta.

“1800 Barrett Lakes is located in one of the stronger submarkets within the Atlanta area,” says Ella Shaw Neyland, president of Steadfast. “We believe that the new Atlanta Braves baseball stadium—just six miles from the property—the expansion of the McCollum Field County Airport and the addition of a $38 million mixed-use development project will continue to drive demand for apartments in Kennesaw.”

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