Crown Bay Group Acquires 240 Unit Multifamily Asset in Stone Mountain, Georgia
ATLANTA, April 8, 2016 /PRNewswire/ – Crown Bay Group LLC, along with its partner Adams Investor Group are pleased to announce the closing on their purchase of their latest apartment building KRC Bridge Apartments on N Hairston Road in Stone Mountain, a suburb of Atlanta. The property is well positioned near shopping including a Walmart Superstore, and only 1 mile to the Stone Mountain Industrial area with over 200 companies with thousands of employees.
The property has now been re-branded as Hairston Woods Apartments. The garden style apartments are situated on N Hairston Rd. Having park-like mature grounds and a beautiful swimming pool, this is a very well kept community with great floorplans that include a sun room area and some with fireplaces. Crown Bay’s portfolio managers Provence Real Estate, will be managing the property, and they are sure to make it an even greater place to live, offering great service to its tenants..
This is Crown Bay Group’s fourth Atlanta acquisition, with more deals in the pipeline.
“We think the Atlanta market is one of the hottest places to be investing in, and are very bullish on the Atlanta area. I think the surface has only been scratched here, with all the larger development and job growth going on there is great opportunity here”, says Steve Firestone, Managing Partner and CEO of Crown Bay Group. “We are stepping up our acquisition drive which will also include office buildings with one currently under contract, and possible development projects in the future.”
The Atlanta Market, including most of its suburbs, is experiencing a high growth period which should carry on for the for the foreseeable future with its employment opportunities and increase in population.
“This is another great acquisition for our investors,” says Steve Firestone. “Our focus is on buying at the right price, and adding value, and at the same time offering great service to our tenants”