Perfectly Positioned for LIHTC Re-Syndication Through DCA
Substantial Value-Add Opportunities
Located Within a Qualified Opportunity Zone
Historical Occupancy in the High 90's with 17+ Years of Common Ownership
In-Town Location, Inside the Perimeter, 15 Minutes West of Downtown Atlanta
1969 (I); 1973 (II)
Berkadia's Atlanta Investment Sales team is pleased to present the 108-unit Towne West Manor multifamily community, boasting 100% two- and three-bedroom floorplans with townhome availability in 45% of units. Located in the Atlanta MSA, the South Fulton submarket has exhibited strong fundamental trends since 2014 with vacancy currently averaging 5.2%. Towne West Manor's location offers it excellent connectivity to many of Atlanta's major employment and retail hubs, including Fulton Industrial, Buckhead, Midtown, Downtown, Hartsfield-Jackson, Camp Creek Marketplace, and Greenbriar Mall. Additionally, the subject is located within a qualified opportunity zone and just minutes from UPS' recently delivered facility employing more than 2,500.
Built in 1969 (Phase I) and 1973 (Phase II), the subject is positioned to benefit from LIHTC re-syndication through Georgia DCA. In addition to its tax credit potential, Towne West Manor offers multiple opportunities to substantially increase NOI including raising rents to net max allowable and significant water expense reduction. Towne West Manor will be offered well below replacement cost and at an attractive basis relative to recent sales in the area.
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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