Marquis 9 Property Portfolio Acquisition
Posted on June 7, 2013
June 7, 2013 (Atlanta, GA). Marquis Investments acquired 9 properties containing 1,187 units in the Buford Hwy/North Druid Hills corridor from Wilkinson Real Estate Advisors, Inc. Moshe Manoah, a Managing Member of Marquis Investments, commented, “This ideally located portfolio will perform extremely well under our proven “3R Strategy” of Recapitalizing, Renovating and Repositioning multifamily properties.” The acquisition was accomplished with equity from Israel and bank debt from Northstar Realty Finance Corporation. The 9 properties feature unusually large 1, 2 and 3 bedroom floor plans and were 97% occupied at closing.
The properties will be managed by Star Residential. The apartment complexes, formerly owned by Tempo, will be renamed Marquis at Brookhaven, Marquis Crossing, Marquis Station, Marquis Gardens, Marquis Villas, Marquis Square, Marquis Terrace, Marquis Village and Marquis Grove.