UNDER CONTRACT: Briarcliff & West Forty9 Apartments

UNDER CONTRACT

​​​​​​​​​​​​​​TWO MULTIFAMILY ASSETS WITH SIGNIFICANT VALUE-ADD UPSIDE IN HISTORIC MILLEDGEVILLE

Colliers is pleased to present Briarcliff and West Forty9, two townhome-style communities with strategic value-add potential located near Georgia College and State University (GCSU) in historic Milledgeville, GA. Totaling 178 units, Briarcliff and West Forty9 offer the ability to phase-in revenue-generating unit interior renovations and augment community amenities to attract a higher-income demographic. Current in-place rents are below market and allow new ownership to capture significantly higher rents through a strategic renovation program. 

One of the safest cities in Georgia, Milledgeville is positioned close to Macon and major employers including the GEICO Southeast Regional Office (7,000+ jobs) and the Atrium Health Navicent Medical Center (4,500 jobs). New ownership will acquire two assets with incredible upside with the ability to leverage Milledgeville’s lack of new supply and strong market trends such as a low 3.4% unemployment rate and 17% income growth over the next 5 years.