Marquis Investments Purchases Falcon Ridge Apartments
Posted on February 7, 2012
February 7, 2012 (Atlanta, GA). Marquis Investments announced today that it has acquired Falcon Ridge Apartments (now known as Marquis Ridge). Marquis Ridge, which was sold by First Southern National Bank, was purchased with cash and bank debt from The Private Bank and is conveniently located in Decatur, GA. The 216 unit complex is made up entirely of 2 and 3 bedroom townhome apartments. Marquis Ridge is a pet-friendly community with a swimming pool and playground, and is conveniently located on the MARTA line with quick access to I-20 and I-285.
The property will be managed by Star Residential. With the addition of Marquis Ridge, Marquis Investments now controls over 2,200 units in the Atlanta metropolitan area. Marquis Investments, LLC began operations in 2010 to efficiently execute the highly structured business plans of the demanding and discriminating opportunistic real estate investment community. Marquis Investments brings over 50 years of top level experience in the multifamily arena.
Moshe Manoah, a Managing Member of Marquis Investments, commented, “Marquis Ridge fits perfectly with our business strategy. We will continue to look for unstablilized properties that performed well in the past but, due to the market downturn, have recently underperformed. Marquis Ridge has historically been well-occupied, and with a combination of a modest renovation and our strong property management, we expect to return this property to significant cash flow. Our ‘3R’ Strategy — Recapitalize, Renovate and Reposition has already proven to be very successful across Marquis Investments’ other properties.
Manoah added, “Our unmatched combination of acquisition, renovation and management expertise, all delivered by our company affiliates without third party managers, will allow us to maintain strict control over all aspects of the investment lifecycle.”
Marquis Investments is actively seeking value-add multifamily acquisition opportunities in the Southeast. Please contact Blair Schlossberg at (770) 391-1233 for more information.