Griffin Fund Acquires Edgewater on Lanier in Gainesville, GA; Plans Renovation

Edgewater on Lanier Apartments, Lake Lanier, Gainesville, GA

Gainesville, GA (Oct. 15, 2014) – Gainesville’s Edgewater on Lanier apartment community has a new owner, new manager and new plans for a luxurious renovation.

The Griffin Fund, a privately-held residential real estate investment firm, recently acquired the 180-unit community, located on the shores of Lake Lanier in Gainesville. The firm says that planned renovations and upgrades will make the lakefront community one of the most appealing in the area. Griffin has chosen Stonemark Management to manage the asset.  

Walt Lamperski

 “We are excited about partnering with The Griffin Fund and look forward to growing our relationship with them in the future,” says Stonemark President Walt Lamperski.

 “This asset enjoys a superior location, and the physical enhancements will add tremendous value to this investment.”

“After the renovation, Edgewater will be one of Gainesville’s finest apartment communities, offering superior views and access to the lake – together with a full and updated amenity package,” said Griffin Fund General Partner Elia Zinn. “We see great potential to add value to the community.”

Griffin Fund, which paid $8.4 million for Edgewater on Lanier, plans a $2 million renovation program. The deal closed Sept. 11.

Edgewater is located on Old Thompson Bridge Road in Gainesville. For more information, visit www.edgewateronlanier.com.

For a complete copy of the company’s news release, please contact:

Terri Thornton, 404-932-4347, Terri@TerriThornton.com