Exited - Multi-family
Acquired in 1987, these apartment homes were located on the booming south side of Atlanta. At that time, EpiCity invested in a dramatic improvement program and turned the community into one of the nicest in the sub-market.
Shortly after acquisition, the Atlanta airport expanded, displacing about 1000 apartments in the area. This helped stabilize rents and occupancy, but the asset continued to fluctuate with the economy throughout the 90s.
Starting in 2000, the area gained attention from various affordable and assisted housing developers. In 2004, EpiCity facilitated the sale of the property to a national tax credit operator.
Property Address: 5420 Riverdale Road, Atlanta, GA 30349
- CoStar Submarket: North Clayton/Airport
- Units: 240