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 residential area with nearby access to I-85 and is proximate to retail and office developments. WRG purchased 93East out of foreclosure in early 2010. At the time of acquisition the asset suffered from extensive interior and exterior neglect and was approximately 30% occupied.  WRG conducted a major renovation of the property, which included improving all 192 units, building a new clubhouse and pool and installing landscape throughout the project.  As a result, occupancy increased to 98% and the asset was sold in April 2014.