Greystar buys 400-unit multifamily property in Atlanta

Greystar buys 400-unit multifamily property in Atlanta

Greystar Real Estate Partners has acquired The Columns at Akers Mill, a 400-unit, garden-style multifamily community situated in the popular Atlanta suburb of Vinings, on behalf of its affiliates.

Originally completed in 1968 and significantly upgraded in 1994, The Columns at Akers Mill is located at 2383 Akers Mill Road SE, in close proximity to major employment hubs including Cumberland/Galleria, Buckhead, Midtown and Perimeter Center. 

Greystar plans to implement a capital improvement plan and will take over management of The Columns at Akers Mill. The capital improvement plan includes comprehensive updates to residences, including replacing dated appliances and cabinets and upgrading finishes including lighting, plumbing and hardware fixtures.

”We know the Atlanta market extremely well and were immediately drawn to this acquisition opportunity given the property’s location, as well as the area’s strong employment fundamentals and favorable supply/demand dynamics for high-quality rental housing,” said Kevin Kaberna, Executive Director and leader of Greystar’s U.S. Investment platform. 

“We have developed a strategic plan to maximize asset value and enhance resident experience through an infusion of capital and the implementation of property management best practices. Our vertically integrated team is well positioned to execute on this opportunity,” Kevin Kaberna added.