FOR IMMEDIATE RELEASE
Contact: Jariel Bortnick, email@example.com, (646) 362-3284
Quad Property Group Acquires Augusta, Georgia Multifamily Property.
Vintage Creek, a 104-unit apartment community, is located on Leg Road on Augusta’s west side.
New York, NY – An affiliate of Quad Property Group, a New York based real estate investment firm, has acquired Vintage Creek, a 104-unit apartment complex located at 1924 N Leg Road on Augusta’s west side. The sale price was $5,000,000 and the transaction closed on August 15th.
According to Jariel Bortnick, a principal at Quad Property Group, the acquisition represented an opportunity to acquire a well-maintained, 1970’s property that is ripe for renovation. Bortnick stated that the company plans to enhance Vintage Creek’s position in the market by renovating unit interiors and improving the complex’s common areas.
Additionally, Quad Property Group plans to add amenities for tenants, including a brand new leasing office and clubhouse, along with a pet park and sport court. “Through our renovation program, we plan to make strategic improvements that will improve the tenant experience at Vintage Creek, both inside individual apartments and throughout the complex,” Bortnick said.
Michael Kashan, also a principal at Quad Property Group, stated that the company is excited about future growth in Augusta and plans additional multifamily acquisitions in the area. “With Augusta’s reliable base of medical, educational and manufacturing jobs, along with the tremendous momentum related to Cyber Command, the future of Augusta looks incredibly bright,” Kashan said.
About Quad Property Group:
Quad Property Group is a real estate investment company that specializes in the ownership, redevelopment and management of multifamily and retail real estate. The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value to commercial properties. For more information, visit the company’s website at www.quadpropertygroup.com.