Purchase Your Blue Vault Research SubscriptionPOSTED ON IN GEORGIA, MULTIFAMILY, SOUTHEAST | ReBusiness Online
SMYRNA, GA. — Steadfast Apartment REIT has acquired Park Valley Apartments, a 496-unit, Class B multifamily community in the Atlanta suburb of Smyrna, for $51.4 million. Built in 1987, the apartment property features studio, one- and two-bedroom residences that range from 465 to 1,137 square feet. Unit interiors include stainless steel appliances, walk-in closets and vaulted ceilings. Community amenities include a swimming pool, cyber café, fitness center, weekly boot camp, three lighted tennis courts, car care center, picnic areas with grills and a fenced pet park. The property is currently 95 percent occupied and rents average $871 monthly. The multifamily REIT plans to upgrade all unit interiors and enhance amenities and common areas. Steadfast Apartment REIT’s portfolio now comprises 9,300 units across 28 properties in 11 states for an aggregate purchase price of $1.1 billion.
Go BackRecent News
- Invesco Real Estate Income Trust Inc. Closes Two Credit Transactions Totaling $51.8 Million in Commitments
- Gladstone Land Announces Election of Paula Novara as Director
- Gladstone Commercial Corporation Announces Monthly Cash Distributions for October, November and December 2022 and Third Quarter Ended September 30, 2022 Earnings Release and Conference Call Dates
- Gladstone Land Announces Increase in Monthly Cash Distributions for October, November and December 2022 and Third Quarter Ended September 30, 2022, Earnings Release and Conference Call Dates
- Capital Square Acquires Luxury Multifamily Community Near Louisville for DST Offering
I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture. For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments. Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients. I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.
