Capstone Companies announces the $26,100,000 sale of Lancaster Ridge Apartments: a 145-unit, garden-style apartment community located in the Canton submarket of the greater Atlanta, GA MSA.
The Capstone transaction team was led by Managing Director of Multifamily Investment Sales, Eric Liebich, and Capstone Partner, Ron Corrao. Through a fully marketed sales process, they represented the seller and facilitated the transaction in conjunction with Capstone’s Atlanta-based Managing Directors, Jake Reid and Chad DeFoor. The Capstone Team also procured the buyer, Toronto, Ontario-based Emma Capital—a privately held real estate investment firm active across multiple markets throughout North America. The acquisition allows Emma Capital to further obtain economies of scale and operational efficiencies within the Atlanta market by adding another well-appointed asset into their growing multifamily portfolio.
“Despite turbulent conditions across the capital markets, we continue to see strong demand for well-maintained multifamily assets throughout major metros across the Southeast,” said Liebich. “We were pleased to play a part in facilitating the transaction between both buyer and seller, and we’re excited to see the community continue to come to life as Emma Capital continues to invest in the property,” Reid added.
Vikram Aneja, a Principal of the Emma Capital group, shared “We’re pleased to bring another well-located asset into our growing multifamily portfolio. The Emma Capital team is looking forward to further investing in the amenities and unit interiors of Lancaster Ridge, to benefit the living experience of the residents at the property.”
