ATLANTA, GA - The Frankforter Group is proud to announce the successful closing of Hairston Woods, a 240-unit garden-style property in beautiful Stone Mountain, Georgia. This acquisition further expands the Group's presence in the Atlanta MSA, which is ranked one of the fastest-growing areas in the US.
Hairston Woods is conveniently located near a 40,000+ job market, including a new $237 million Amazon distribution center with over 3 million SF of fulfillment space. Moreover, Stone Mountain is a mere 12.5 miles northeast of the downtown/midtown core, which supplies approximately 250,000 additional high-paying jobs to the immediate surrounding neighborhoods.
The Frankforter Group set up an extensive renovations plan that includes the revamping of the clubhouse, leasing office, and gym to improve the community offering to match the neighborhood demand.
“In the past years, we have developed a significant presence in the Atlanta market that will enable us to deliver remarkable enhancements to the property, and upgrading the tenants' overall experience”, explained Stephane Benalal, Executive Director of Acquisitions at the Frankforter Group”. Despite the current markets, this is our second acquisition in less than 2 weeks in the Southeast and Sunbelt states and we have many other deals in the pipeline. The multifamily fundamentals remain very strong, and we remain committed to expanding our growing portfolio, given our creative yet disciplined approach to investing in high-performing assets."
"The Frankforter Group is also proud to announce that it has appointed First Communities – its long-standing partner in the Atlanta MSA – to serve as Property Managers", concludes Philip Lassman, VP of Asset Management at the Frankforter Group. "Together by upgrading the amenities, the common areas, and the units' interiors, we will drastically improve the property and the resident experience at Hairston Woods."
About The Frankforter Group: The Frankforter Group is a third-generation real estate investment and asset management firm with a focus on acquiring institutional grade multifamily and commercial real estate in Canada and the United States. The Frankforter Group has a proven track record of delivering meaningful returns to the group’s investors and is led by an experienced team with well over 100 years and more than $2.8 billion in transaction experience.