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| Forest Pointe Apartments, Macon, GA |
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| Robert Stickel |
ATLANTA, GA (Nov. 24,
2015) — Multi Housing Advisors (MHA) has arranged the $13.8 million sale of Forest Pointe, a 200-unit apartment
community located in Macon, Georgia.
Robert Stickel,
who leads MHA’s central to coastal Georgia deal team, represented the seller,
QR Capital, in the transaction. LMS Real Estate Investment Management purchased
the property.
“Forest Pointe is an
exceptionally located asset providing residents convenient access to major job
centers and quality retail, while also offering a private residential setting,”
Stickel said.
“With recent upgrades to the exteriors and amenities, Forest
Pointe provides the opportunity to focus new capital on interior upgrades,
resulting in increases in both rental rates and investment returns.”
Forest Pointe is a cash
flowing asset with recent capital improvements, including new exterior paint,
new stacked stone grill and fireplace area by the pool, and dark stained
cabinets.
The property is located in
the premier North Macon submarket with true “country club” demographics and an
average household income of over $74,000 within a one-mile radius of Forest
Pointe.
For a complete copy of the company’s news release,
please contact:
Deborah Rogers
Multi Housing Advisors
404.645.7275
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