ATLANTA, GA - Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of The Columns at Timothy Woods, a 204-unit apartment community in Athens, Georgia.
Built in 1996, The Columns at Timothy Woods features one, two and three-bedroom apartment homes with rental rates currently ranging from $1,350 to $2,100 per month. The recently acquired property is 93% occupied and will be managed by Fogelman. Fogelman’s investment plan entails upgrades to the amenity areas, clubhouse, property exterior and landscaping.
“We’re thrilled to announce the acquisition of The Columns at Timothy Woods in Athens, Georgia,” says Mike Aiken, SVP of Investments at Fogelman. “Buying high-quality conventional multifamily assets in college towns is one of the strategies that continues to serve our investors well.”
The Columns at Timothy Woods marks Fogelman’s seventh acquisition of 2022, totaling more than 1,660 units and $291 million in transaction volume across Georgia, Tennessee, Texas and South Carolina.
Headquartered in Memphis since 1963, Fogelman Properties now manages 96 multifamily communities across the Southeast and Sun Belt regions. The company has grown from a local family-owned business to a leader in the multifamily industry, overseeing more than $5B in asset value.