STONE MOUNTAIN, Ga., Sept. 30, 2019 /PRNewswire/ -- Charlotte based Three Oaks Management LLC and partners Crown Bay Group LLC and Gimme Shelter Real Estate Solutions LLC are pleased to announce their acquisition of Ashgrove Apartments in Stone Mountain, GA. The property is located right outside of Atlanta's inner loop.
The garden style property is located on Hambrick Road, with easy access to Rockbridge Road and just minutes away from I-285. It is comprised of 92 units spread over 7.6 acres. The new owners intend to complete a deferred maintenance program, along with light unit interior upgrades on select units as units turn. In addition, they will put in place a washer-dryer rental program, which has already been successfully implemented at some of Crown Bay Group's other properties.
The property benefits from an outstanding location, not far from the inner loop of Atlanta. Fortune 100 companies such as Coca Cola, Home Depot, and UPS are all headquartered in Atlanta. For those that live in Stone Mountain that prefer to work closer to home, there are plenty of job opportunities available at the nearby Stone Mountain Industrial Park.
The three companies are bullish about the Atlanta market and Stone Mountain submarket, and more acquisitions are being planned there. The Southeast markets are experiencing a high growth period which should carry on for the foreseeable future with strong employment growth and increase in population.
"This is a great acquisition for our investors. Our focus is on buying at the right price, adding value, and at the same time offering great service to our tenants," says Charles Seaman.
The property will be managed by Crown Bay Management, a subsidiary of Crown Bay Group.
Three Oaks Management LLC is a privately held acquisition and asset management company. Based in Charlotte, it focuses on the multifamily market. It provides above average returns to its partners and investors through a meticulously planned value-add program.
For more information please contact:
THREE OAKS MANAGEMENT LLC
Phone: (704) 412-2195
Email: [email protected]
SOURCE Three Oaks Management LLC