CANTON, GA—Capstone Companies announces the $26,100,000 sale of Lancaster Ridge Apartments: a 145-unit, garden-style apartment community located in the Canton submarket of the greater Atlanta, GA MSA.
The Capstone transaction team was led by Managing Director of Multifamily Investment Sales, Eric Liebich, and Capstone Partner, Ron Corrao. Through a fully marketed sales process, they represented the seller and facilitated the transaction in conjunction with Capstone’s Atlanta-based Managing Directors, Jake Reid and Chad DeFoor. The Capstone Team also procured the buyer, Toronto, Ontario-based Emma Capital—a privately held real estate investment firm active across multiple markets throughout North America. The acquisition allows Emma Capital to further obtain economies of scale and operational efficiencies within the Atlanta market by adding another well-appointed asset into their growing multifamily portfolio.
“Despite turbulent conditions across the capital markets, we continue to see strong demand for well-maintained multifamily assets throughout major metros across the Southeast,” said Liebich. “We were pleased to play a part in facilitating the transaction between both buyer and seller, and we’re excited to see the community continue to come to life as Emma Capital continues to invest in the property,” Reid added.
Vikram Aneja, a Principal of the Emma Capital group, shared “We’re pleased to bring another well-located asset into our growing multifamily portfolio. The Emma Capital team is looking forward to further investing in the amenities and unit interiors of Lancaster Ridge, to benefit the living experience of the residents at the property.”
The Lancaster Ridge Apartments are located in Canton, Georgia and feature 145 market rate apartment units across a variety of one-, two-, and three-bedroom floor plans—each with their own private balcony. Built in 1994, the asset features a clubhouse, onsite leasing office, outdoor playground, picnic area, swimming pool, and picturesque landscaping. The property is situated on 14.05 acres and sits within close proximity to an assortment of retail and commercial services. The location also offers immediate connectivity to I-575—a main throughfare throughout the greater Atlanta MSA. Lancaster Ridge was 96% occupied at the time of the sale.
About Emma Capital:
Emma Capital was founded in 2012 and specializes in the identification, financing, acquisition, and operation of multi-family residential complexes, with a focus on the Sun Belt and Midwestern states in the US. The typical Emma Capital project involves 100+ Class B apartment communities with value-add opportunities, delivering strong cash flow and long-term appreciation while preserving capital. Since inception, Emma Capital has acquired properties comprised of over 11,000 units in the Phoenix, Atlanta, Charlotte, Nashville, Orlando, Indianapolis, and Raleigh/Durham markets.
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