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Roberts Realty Starting Two Apartments

Atlanta
Roberts Realty Starting Two Apartments

Roberts Realty Investors will start construction of two new apartment complexes beginning Q1 of 2014. That info came to light by Roberts' CEO Charles Roberts during a shareholder meeting this past week, according to filings with the SEC. Roberts is planning to start Bradley Park, a 154-unit apartment complex in Forsyth County, and a 220-unit apartment complex on Northridge Road by Q2 2014. This is all part of Roberts strategy to cull its office holdings (such as the sale last month of 450 Northridge Pkwy seen here to the Fulton County Board of Education for $5.8M) and focus solely on multifamily. "After several years of enduring a very difficult economic environment, our exit from the retail and office business will finally allow us to focus exclusively on our primary business of developing new, high-quality multifamily apartment communities," Charles was quoted saying during the investor conference.