FOR IMMEDIATE RELEASE
Contact: Jariel Bortnick, firstname.lastname@example.org, (646) 362-3284
Quad Property Group Acquires Warner Robins Apartment Complex.
The Lory of Warner Robins, a 102-unit apartment complex, is located just off Highway 96
New York, NY – An affiliate of Quad Property Group, a New York-based real estate investment firm, has acquired The Lory of Warner Robins, a 102-unit apartment community in Warner Robins, Georgia, for $16,150,000. The transaction closed on December 8th and represents the company’s fifth apartment complex acquisition in Georgia.
The property, which is being rebranded as Element at Warner Robins, is located at 109 Latham Drive in Warner Robins. It contains a mix of 1 bedroom, 2 bedroom and 3 bedroom apartments, all in 1-story buildings with private entrances. The complex also features a resident clubhouse, swimming pool and playground, along with other resident amenities. Built in 2001, it was 100% leased at the time of the sale.
Jariel Bortnick, a principal at Quad Property Group, stated that the acquisition of complex was an ideal opportunity to acquire a well-located, fully-leased property in a burgeoning part of Middle Georgia.
“With the explosive growth in Warner Robins, we are excited by the opportunity to enter the market and further enhance an already well-positioned apartment community,” Bortnick said.
Bortnick stated that the company plans to improve the amenity spaces and common areas at the property, including an expansion of the clubhouse to accommodate a new fitness center for residents.
According to Michael Kashan, also a principal at Quad Property Group, the company owns a number of apartment communities throughout the Southeast and is eager to bring their brand to Middle Georgia.
“We are certainly pleased to expand our portfolio into the Warner Robins area and look forward to growing our presence in the region.”
Quad Property Group is a real estate investment firm that specializes in the ownership, redevelopment and management of multifamily property. The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value. For more information, visit the company’s website at www.quadpropertygroup.com.