| Atlanta-based Cortland Partners is making good on its vow to buy upmultifamily in Atlanta, now purchasing Kendall Creek in Norcross(seen here) for $10M after capital expenditures and closing costs. The 308-unit complex just underwent major renovations with the previous institutional owner, but Cortland officials say it will undertake some ?deferred maintenance,? including painting, roof replacement, and storm damage. This is the latest purchase by Cortland, which told us last year it would aggressively shop the Atlanta multifamily market. Its most recent purchase before this deal was Harbour Oaks Apartments in Marietta and Woodhaven Apartments in DeKalb. |
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