“Our joint venture viewed this as an opportunity to acquire a vacant high-quality asset in 185 Tabor Road at an attractive basis well below replacement cost,” says Ryan Dodge, vice president with PCCP.
The new owners plan to spend approximately $3.2 million on a repositioning strategy, including renovation of common areas, amenities, and unit interiors.
Major employers locating in the Alpharetta/Roswell area are all great amenities that make the property attractive, says Kevin Geiger, vice chairman at CBRE.
"There is an irrepressible march that is moving forward of improvement in the city," says Bobby Fijan, a partner in Cross Properties. Hear the complete panel in our audio podcast.
“This is a once-in-a-lifetime opportunity to purchase portside land with unparalleled maritime access in one of the world's most land constrained port markets,” says Cushman & Wakefield's David Bernhaut.
Varden Capital Partners repositioned the assets following a bulk purchase, and made healthy profits for investors while leaving a great value-add path ahead for Blue Rock, says Cushman & Wakefield's Tyler Averitt.
With asking rents for this apartment submarket expected to advance upward of 6% over the next couple of years, the timing looks good for selling the highest concentration of for-sale stabilized assets in Hudson County ever to come to market, says Gebroe-Hammer's Nicholas Nicolaou.
“The property's strategic location provides Atlanta's best overall access to the major employment centers of Buckhead, Midtown, Downtown and Cumberland/Galleria,” says CBRE's Kevin Geiger,
