93East, ATLANTA GA

Website: www.93EastApts.com

Type: Acquisition & Rehabilitation

Description:
Multi-Family: 192 Garden-Style Units on 14.9 Acres

Overview:
93East Apartments is located in northeast Atlanta, "inside the loop" near the Dekalb Peachtree Airport. The property is situated in a primarily residential area with nearby access to I-85 and is proximate to retail and office developments, as well as Emory and Mercer Universities. WRG purchased 93East out of foreclosure in early 2010. At the time of acquisition the asset suffered from extensive interior and exterior neglect reflective of a hands-off ownership mentality and poor property management. WRG has since completed an extensive renovation and will reach stabilization in late 2011.

The common area improvements for the project includes a new clubhouse and pool, fitness center, dog park, building façade improvements, new roofs, landscaping throughout the project, new asphalt paving and security fencing with controlled access. All 192 unit interiors have been completely renovated, including new cabinetry, countertops, built-in desks, kitchen appliances, floor coverings, doors, millwork, hardware and paint. In addition, a half-bath was added to the 2- and 3-bedroom units.

Property Management:
Southeast Residential Group
Tel: 404-633-0993
tnelthrope@seresidentialgroup.com