{"id":1004096703,"date":"2014-05-16T09:17:53","date_gmt":"2014-05-16T17:17:53","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=262023"},"modified":"2022-12-13T00:06:21","modified_gmt":"2022-12-13T08:06:21","slug":"pointe-at-lenox-park-picked-up-for-almost-25m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pointe-at-lenox-park-picked-up-for-almost-25m\/","title":{"rendered":"Pointe at Lenox Park Picked Up for Almost $25M"},"content":{"rendered":"

\"\"<\/a>Pointe at Lenox Park, a 271-unit garden-style community in the Brookhaven submarket recently changed hands for $24.9 million. The previous local private owner sold the apartment homes to Cortland Partners.<\/p>\n

Concentrating mainly on value-add acquisitions and development opportunities, Cortland Partners is an apartment owner and manager with a growing portfolio in the Southeast and Texas. The firm\u2019s platform includes investment management, property management, and construction services and in the past few years\u00a0\u2013<\/span>\u00a0since the beginning of the recession<\/span>\u2013<\/span>\u00a0its owned and managed residential portfolio has grown to around 19,000 units in the area. \u00a0<\/span><\/p>\n

The company\u2019s CEO, Steven DeFrancis is optimistic about the community\u2019s strong performance in the future, especially considering the current state of the market.<\/span><\/p>\n

\u201cThe city\u2019s job growth and the restrained amount of new construction in the area are strong indications that the multifamily sector in Atlanta will continue to strengthen in the months and years ahead,\u201d he says.<\/span><\/p>\n

Located at 1900 North Druid Hills Road, the rental complex was built in 1988. The community features one- and two-bedroom apartment homes. Tenants can choose from 602- or 800 square-foot one-bedroom floor plans and the two-bedroom units measure 1000 square feet and come with an extra bathroom. Common-area amenities include a business center, a clubhouse and a fitness facility. Apartments are equipped with wood-burning fireplaces, intrusion alarms, wood flooring, granite countertops and include large closets as well as private balconies. The new owner intends to perform a general renovation on all units and update some of the community features as well.<\/p>\n

Photo credits: Pointe at Lenox Park<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pointe at Lenox Park, a 271-unit garden-style community in the Brookhaven submarket recently changed hands for $24.9 million. The previous local private owner sold the apartment homes to Cortland Partners.<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387,1815],"class_list":["post-1004096703","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta","tag-national"],"acf":[],"yoast_head":"\nPointe at Lenox Park Picked Up for Almost $25M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pointe-at-lenox-park-picked-up-for-almost-25m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pointe at Lenox Park Picked Up for Almost $25M\" \/>\n<meta property=\"og:description\" content=\"Pointe at Lenox Park, a 271-unit garden-style community in the Brookhaven submarket recently changed hands for $24.9 million. 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