Chicago, IL, June 27, 2013 – Redwood Capital Group, LLC, a Chicago-based multi-family investment firm announced the recent acquisition of The Preserve at Dunwoody, a 302 unit apartment complex in Dunwoody, GA.
Redwood, headed by partners David Carlson and Mark Isaacson, owns and operates 26 properties totaling more than 9,000 units in multiple markets throughout the Midwest, Southeast and Southwest. The firm anticipates closing another $200 million in acquisitions by year-end.
The Preserve at Dunwoody, located at 8600 Roberts Drive, is comprised of 32 residential buildings with a totaling of 360,000 square feet on 27 acres. This 302-unit property consists of one and two-bedrooms averaging 1,192 square feet a unit. Built in 1984, the property underwent $3 Million in extensive renovations in 2008. Today, however, Redwood plans on injecting over $2 Million in additional capital expenditures, including approximately $500,000 in interior unit enhancements. Amenities include a business center, fully remodeled clubhouse, two swimming pools, renovated fitness center, tennis court, gated dog park, large playground, car wash facility, and controlled, gated access. This property boasts a 97% occupancy rate.
“Situated between two of Metro Atlanta’s main employment centers – Central Perimeter and North Fulton – The Asset benefits from superior employment and attractive demographics” says Redwood Partner David Carlson. “Further, convenient access to GA 400 provides outstanding connectivity throughout Atlanta. Together, these characteristics should provide stable fundamentals to support attractive long-term property performance.”
About Redwood Capital Group, LLC
Redwood Capital Group, LLC is a Chicago-based real estate investment firm founded in 2007 by David Carlson and Mark Isaacson. The company is focused on value-add and core plus investments in primary urban and suburban markets across the U.S., primarily in the Midwest, Southeast, and Southwest. The company’s mission is to be the foremost choice for institutional and private equity in pursuit of strategic multi-family investment. Redwood is located at 1 E. Wacker Drive in Chicago. For more information, visit www.redwoodcapgroup.com or call 312.464.0300.
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