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- 1200 Brickell Ave Penthouse 2020, Miami, FL 33131
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Location: 10 Creste Dr, Decatur, GA 30035
Year Built: 1989
Class: B
Units: 210
Acquisition Date: 4/20/2023
The Atlanta MSA has a population of over 6.1 million. This number has grown by 10% in the last five years and 15% in the last ten years. Significant organic rental upside upon acquisition, as current ownership is charging rents considerably below comparables. OREI anticipates $149/unit of organic, mark-to-market rent growth.
Upon interior renovation, OREI anticipates a $123/unit average rent premium, in-line with similarly renovated product within the submarket.