VIRGINIA BEACH, Va., Nov. 1, 2016 /PRNewswire/ -- Hercules Living, a family-owned and operated multifamily regional developer headquartered in Virginia Beach, Virginia, announces its recent acquisition of two residential apartment communities in Georgia. The two acquisitions represent a $64M capital investment adding 469 homes to their vast multifamily portfolio that includes properties in the mid-Atlantic and Southeast region of the US.
The latest acquisition for Hercules Living includes the purchase of Century Mill Creek in Duluth, a 259-unit apartment community located near the Mall of Georgia now named Dakota Mill Creek. Additionally, Hercules Living purchased Century Brook on Mesa Valley Road in Austell, a 210-unit multifamily community renamed, Chroma Park. Both properties are well-established rental communities; enjoy high occupancy rates and high tenant retention.
Hercules Living teamed with their development arm, RST Development, LLC, and construction arm, Triangle Construction, both of Rockville, MD, to enhance and upgrade both properties' signage, common area amenities and to add additional assets in the coming months. Award-winning Hercules Living owns and manages over 40 properties, including more than 8,000 apartments in seven states.
"Our most recent acquisitions dramatically expand the depth of market share we enjoy in the Greater Atlanta area. This substantial investment showcases the strength of our commitment to provide high quality, yet affordable housing to Metro Atlanta," said Scott Copeland, principal of RST Development.
New rental applications are being accepted at both properties Monday through Friday 9 am to 6 pm and Saturday 10 am to 5 pm. The Dakota Mill Creek Leasing Center is located at 2705 Mall of Georgia Boulevard, Buford, Georgia, 30519. Chroma Park's Leasing Center is located at 2105 Mesa Valley Way, Austell, Georgia, 30106.
For more information about Hercules Living, visit www.herculesliving.com.
Jessica Gillette, Director of Marketing and Talent Development
168 Business Park Drive, Suite 200
Virginia Beach, VA 23462
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hercules-living-announces-two-major-multifamily-apartment-acquisitions-in-georgia-300355034.html
SOURCE Hercules Living