Cision PR Newswire
Carter Multifamily Acquires 200-Unit Garden-Style Multifamily Property in Georgia
News provided byCarter Multifamily
Jan 25, 2023, 11:00 AM ET
Brighton Park is a garden-style apartment community located in the Byron (Warner Robins), Georgia submarket
BYRON, Ga., Jan. 25, 2023 /PRNewswire/ -- Carter Multifamily has announced its acquisition of Brighton Park, a 200-unit apartment community on Watson Boulevard in Byron (Warner Robins), Georgia for the purchase price of $34.5 million. Built in 2001 and spanning approximately 222,392 rentable square feet, Brighton Park offers well-designed one, two, and three-bedroom apartment homes.
The property is located in the growing Middle Georgia region, an excellent location for residents given its proximity to thoroughfares I-75 and I-16 which allows for easy access to the surrounding logistics and manufacturing employment hubs, and to companies such as Perdue Farms, Northrop Grumman and Frito Lay. The Middle Georgia region is also exemplary for higher education, with six universities within a 50-mile radius, such as Mercer University and Georgia Military Institute.
"We're excited to continue to grow our footprint in the burgeoning market of Warner Robins/Middle Georgia. We believe the area continues to be an attractive multifamily market as evidenced by continuous population and job growth, as well as excellent connectivity to the country's leading industry hubs of aerospace, manufacturing, and logistics. We believe that the Warner Robins submarket will continue to fuel demand growth for high-quality, affordable multifamily housing, and that Brighton Park will be a valuable addition to our real estate portfolio," said Ray Hutchinson, chief investment officer of Carter Multifamily.
Property amenities include: pool, fitness center, playground, gated community, clubhouse, parking, carwash, tennis courts, laundry facilities, business center, grills, dog park, movie theater, and a vegetable garden. Carter Multifamily intends to execute a value-add strategy which will include operational improvements, upgrades to community amenities, interior unit renovations, and exterior plant improvements.
About Carter Multifamily
Carter Multifamily is a Carter Funds company focused on high-growth multifamily real estate acquisitions with value-add enhancement opportunities. Carter Multifamily's leadership team has over 280 years of experience in the real estate sector and leverages key relationships in multifamily to focus on GROWTH and INCOME opportunities. Visit our website: www.cartermultifamily.com
Director of Marketing, Carter Multifamily
SOURCE Carter Multifamily