Crown Bay Group Completes Acquisitions in Atlanta & Macon GA for a total 446 units

       

Atlanta, GA (June 7th, 2017) – Crown Bay Group LLC is pleased to announce double closings on its purchases of Park at Greenbriar Apartments on May 5, across from the Greenbriar Mall in SW Atlanta, and Kenilworth Manor in Macon GA on May 12.

Park at Greenbriar is Crown Bay Group’s newest property added to its existing portfolio of Atlanta apartment communities. The property is well positioned near shopping and is 4 miles from the area’s biggest employer, Hartfield Jackson Airport, the busiest airport in the US.

The property is made up of two and three bedroom apartments and townhouses. There is also a fitness center and very large swimming pool on site. The property is well served with a Kroger anchored shopping center next door, and the Greenbriar Mall opposite. There is public transport right outside the property, and quick access to I-285, the Interstate Highway loop encircling Atlanta.

Kenilworth Manor is an extremely interesting and unusual property, built on 50 acres in 1970. It is comprised of an 11 story apartment block, a 5 story mid-rise block and the rest of the site a mix of two story garden apartments, townhouses, and even a cluster of odd cubed shaped single story houses. The whole property is set in a beautiful nature setting with a 13 acre lake in the center of the property. The name will be changed back to its former name Crystal Lake Apartments.

This was built as a cutting edge dynamic community project at the time, but has gone into some disrepair over the years.

“On the first day this came on the market I knew I wanted it. I drove down the next day and made a deal!” says Steve Firestone, Crown Bay Group’s CEO. “We are going to bring this back to its former glory and more.”

There is a nature trail around the lake, and of course it will be pet friendly. There is a style of housing to suit almost anyone’s needs here.

“Park at Greenbriar and Kenilworth (now Crystal Lake) are well located value-add acquisition for our investors,” says Steve Firestone. “Our focus is on value-add opportunities in strong job growth market locations throughout the South East.”

About Crown Bay Group LLC

Crown Bay Group is a privately held real estate investment and asset management company based in Atlanta with its focus on the multifamily asset class. Crown Bay Group specializes in value-add properties in markets with good growth potential. The company is expanding its footprint within the South East by sourcing the right deals to create above average returns for Crown Bay Group, its partners and investors.

Acquisition of Flint River Crossing

FOR IMMEDIATE RELEASE:

CROWN BAY GROUP ACQUIRES ANOTHER 200 UNIT MULTIFAMILY COMPLEX IN ATLANTA, GEORGIA

ATLANTA, December 16th, 2016 /PRNewswire/ – Crown Bay Group LLC, along with its partners, is pleased to announce the closing on their purchase of Flint River Crossing in Jonesboro, in Atlanta’s Southern Crescent Region. This property has strong demand drivers resulting from its strategic I-75 South Corridor location, the Airport/South Atlanta office/industrial district, and the burgeoning Clayton County office/industrial district. The property is well positioned near shopping and restaurants.

The garden style apartments are situated on Flint River Rd. Having park-like mature grounds and a beautiful swimming pool, this is a very well kept community which has recently had extensive capital expenditure which Crown bay will continue, by upgrading unit interiors and addressing the property’s other needs. Crown Bay’s portfolio managers Provence Real Estate will be managing the property, and they are sure to make it an even greater place to live, offering great service to its tenants as usual.

This is Crown Bay Group’s fifth Atlanta acquisition, with more deals in the pipeline carrying right through to the New Year.

“I am still very bullish on the Atlanta area. I think we may see a little slowdown in the unprecedented 7% rent growth of the last couple of years, but with development, job growth, and an increasing population going on here, there is still great opportunity in this market, probably not ending this cycle until 2019.”  says Steve Firestone, Managing Partner and CEO of Crown Bay Group.

The Atlanta Market, including its sub markets, have been experiencing an unprecedented high growth period which should carry on for the foreseeable future.

“This is another great acquisition for our investors,” says Steve Firestone. “Our focus is on buying at the right price, and adding value, and at the same time offering great service to our tenants”