Crown Bay Group Completes Acquisitions in Atlanta & Macon GA for a total 446 units
Atlanta, GA (June 7th, 2017) – Crown Bay Group LLC is pleased to announce double closings on its purchases of its latest multifamily property Park at Greenbriar Apartments on May 5, across from the Greenbriar Mall in SW Atlanta, and Kenilworth Manor in Macon GA on May 12.
Park at Greenbriar is Crown Bay Group’s most recent purchase is added to its existing portfolio of Atlanta apartment communities. The property is well positioned near shopping and is 4 miles from the area’s biggest employer, Hartfield Jackson Airport, the busiest airport in the US.
The property is made up of two and three bedroom apartments and townhouses. There is also a fitness center and very large swimming pool on site. The property is well served with a Kroger anchored shopping center next door, and the Greenbriar Mall opposite. There is public transport right outside the property, and quick access to I-285, the Interstate Highway loop encircling Atlanta.
Kenilworth Manor is an extremely interesting and unusual property, built on 50 acres in 1970. It is comprised of an 11 story apartment block, a 5 story mid-rise block and the rest of the site a mix of two story garden apartments, townhouses, and even a cluster of odd cubed shaped single story houses. The whole property is set in a beautiful nature setting with a 13 acre lake in the center of the property. The name will be changed back to its former name Crystal Lake Apartments.
This was built as a cutting edge dynamic community project at the time, but has gone into some disrepair over the years.
“On the first day this came on the market I knew I wanted it. I drove down the next day and made a deal!” says Steve Firestone, Crown Bay Group’s CEO. “We are going to bring this back to its former glory and more.”
There is a nature trail around the lake, and of course it will be pet friendly. There is a style of housing to suit almost anyone’s needs here.
“Park at Greenbriar and Kenilworth (now Crystal Lake) are well located value-add acquisition for our investors,” says Steve Firestone. “Our focus is on value-add opportunities in strong job growth market locations throughout the South East.”
About Crown Bay Group LLC
Crown Bay Group is a privately held real estate investment and asset management company based in Atlanta with its focus on the multifamily asset class. Crown Bay Group specializes in value-add properties in markets with good growth potential. The company is expanding its footprint within the South East by sourcing the right deals to create above average returns for Crown Bay Group, its partners and investors.