Courtesy of Exchange at 1105.
A new class-A, 280-unit garden-style apartment community in LaGrange has changed hands for an undisclosed amount.
Courtesy of Google Maps.
Coral Gables, Fla.-based Beacon Real Estate Group acquired Exchange at 1105, which offers one-, two- and three-bedroom floorplans. Unit amenities include smart-lock entry, stainless-steel appliances, granite kitchen countertops, soaking bathtubs, walk-in closets and more, according to a press release.
The two-phase development’s communal amenities include a clubhouse, fitness facility, resident lounge with pool table, Wi-Fi-enabled clubhouse with business center, dog park with pet spa and pool with sun deck.
“The LaGrange market has seen tremendous large-scale corporate investment and expansion, with accelerated employment opportunities and growth,” said managing director Scott Wadler of Berkadia Miami, which arranged financing on behalf of Beacon. “This is a supply-starved market. Troup County has experienced historic undersupply of housing for the last decade where only three institutional-quality multifamily projects have been built in that time.”
Located at 1105 and 1195 S. Davis Road, Exchange at 1105 is near I-85 and I-185 and within commuting distance of Atlanta, Newnan and Columbus, Ga., and Auburn, Ala.
Alliance Bernstein provided the financing.
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