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The Azure @Riverside

Location:  648 Whisper Trail Austell, Georgia - 30168

Year Built:  1979

Class:  B

Units:  267

Seller:  Stonemark

Acquisition Date:  May 28, 2021

Investment & Highlights

Azure at Riverside is located in Atlanta, GA, the economic capital of the Southeast and one of the fastest growing metros in the United States with the 10th largest Atlanta has been named the #1 Metro Area for ecnomic growth potential. The MSA's population is expected to reach 7.1M by 2030, an 18% increase over current figures.

The property is located in the southern portion of Cobb County, one of the wealthiest counties in Atlanta. The South Cobb district has undergone a significant revitalization project since March 2018, during which public landscaping, streets/medians, and signage throughout the region have been enhanced to provide a fresh aesthetic and overall improved appeal.

16 Fortune 500 companies across the Manufacturing (The Coca-Cola Company, Newell Brands, AGCO), Logistics (UPS, The Southern Company, WestRock), and Service (Delta Airlines, International exchange, GPC) industries are based in the Atlanta MSA (Source: Fortune.com)

The Atlanta MSA was ranked as the #1 Metro Area for economic growth potential (Source: Business Facilities 2019) and the #1 moving destination in the Nation (Source: Penske 2019)

In 2019, the one-year rent growth in the Atlanta Metro region was 4.8%, which was 3.3% higher that the national average YoY rent growth of 1.5% (Source: CoStar and Apartment List)