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| The Park at Vinings, Smyrna, GA |
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| Byron Cocke |
ATLANTA, GA (March 24, 2014) — Cocke Finkelstein Inc. (CFI),
a full-service multifamily investment firm, has acquired The Park at
Vinings, a 484-unit, garden-style apartment community in Smyrna, Ga., for
$49.5 million.
CFLane, the apartment management subsidiary of CFI, will
manage the community, which was 97 percent occupied when the transaction
closed.
The Park at Vinings was built in 1980 and sits on more than
60 acres; it offers one-, two- and three-bedroom floorplans. Amenities include
a two-story, lagoon-style pool with waterfalls; six lighted tennis courts;
volleyball court; pond with a gazebo and picnic seating; playground; car-care
center; dog park; and wooded views.
“The Park at Vinings will be an outstanding addition to our
portfolio, ” said Byron Cocke, CEO of CFI and CFLane. “This property has
performed extremely well in recent years, and the metro Atlanta apartment
market should have several years of additional rent growth and increasing
occupancy rates on the horizon.”
For a complete
copy of the company’s news release, please contact:
Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)
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