Frankforter Group has acquired the Garden Walk Apartments, at 934 Garden Walk Blvd, with plans to renovate the 240-unit complex to the tune of $2,000,000, according to a press release Monday. The purchase price was not disclosed.
The 29-acre property consists of 240 rental apartments located in the Williamsburg Park neighborhood a few miles south of the Hartsfield–Jackson Atlanta International Airport.
Frankforter’s planned enhancements include additions to the common area amenities such as an automated delivery locker system, clubhouse upgrades, pool area renovations, and sports courts “revamping.”
“We have been very active in the Atlanta market in the last few years and we are very excited to increase the group’s portfolio in one of the country’s growing markets,” Stephane Benalal, director of acquisitions for Frankforter Group, said. “Garden Walk fits perfectly within our value add strategy. Our approach for this community is to invest a significant amount of capital to enhance the tenant experience and bring out the full potential in this property.”
Frankforter Group is expected to make similar acquisitions as early as this quarter, according to the release, but specifcs were not disclosed.
