ATLANTA, GA – New York-based, real estate investment management firm, JEM Holdings, has purchased a 310-unit apartment community in Smyrna, GA for $68.2 million. The company acquired the newly-developed asset, the Eddy at Riverview Landing, from Prestwick Cos.
Situated within a sustainably-minded, mixed-use development along the Chattahoochee River, the Eddy at Riverview Landing is currently in lease-up.
"The acquisition of the Eddy provided an opportunity for us to utilize 1031 benefits while acquiring a beautifully constructed, core asset at a pre-stabilized valuation," states Mikael J. Levey, CEO and founder of JEM Holdings. "We are excited to continue where Prestwick left off in leasing up the property and to provide our investors with superior risk adjusted returns."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
