Home Alts News Carter Multifamily Buys 200-Unit Garden-Style Multifamily Property in Georgia

Carter Multifamily Buys 200-Unit Garden-Style Multifamily Property in Georgia

Carter Multifamily, an affiliate of Carter Funds and sponsor of private placement offerings, announced its acquisition of Brighton Park, a 200-unit apartment community on Watson Boulevard in Byron, Georgia for $34.5 million.

Built in 2001 and spanning approximately 222,392 rentable square feet, Brighton Park offers one-, two- and three-bedroom apartment homes.

The property is located in the growing Middle Georgia region and near I-75 and I-16 which allow access to the surrounding logistics and manufacturing employment hubs, and to companies such as Perdue Farms, Northrop Grumman and Frito Lay. The Middle Georgia region is home to multiple higher education institutions, with six universities within a 50-mile radius, including Mercer University and Georgia Military Institute.

“We’re excited to continue to grow our footprint in the burgeoning market of Warner Robins/Middle Georgia,” said Ray Hutchinson, chief investment officer of Carter Multifamily. “We believe the area continues to be an attractive multifamily market as evidenced by continuous population and job growth, as well as excellent connectivity to the country’s leading industry hubs of aerospace, manufacturing and logistics. We believe that the Warner Robins submarket will continue to fuel demand growth for high-quality, affordable multifamily housing, and that Brighton Park will be a valuable addition to our real estate portfolio.”

Property amenities include a pool, fitness center, playground, clubhouse, parking, carwash, tennis courts, laundry facilities, business center, grills, dog park, movie theater and a vegetable garden. Carter Multifamily intends to execute a value-add strategy which will include operational improvements, upgrades to community amenities, interior unit renovations and exterior plant improvements.

Carter Multifamily focuses on acquiring multifamily assets with value-add opportunities.

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