Creekstone

Well-Located Asset in High Growth Submarket Boasting Proximity to New Developments and Major Drivers

The Opportunity

Berkadia's Atlanta Investment Sales team is pleased to present the 160-unit Creekstone multifamily community, boasting 96% two-bedroom floor plans with newly renovated common areas. Located in Clarke County, the East Athens submarket has exhibited strong fundamental trends since 2014. As a result, the subject has experienced impressive year-over-year growth in effective gross income. Creekstone's location is just minutes away from Athens' main economic driver, the University of Georgia, and is proximate to major developments shaping the area including the planned Athens Amphitheater, located directly south of the property. Built in 2001, the high-quality subject offers substantial value-add and mark-to-market opportunities.

Investment Highlights

Located Minutes from Athens' Top Economic Driver - The University of Georgia

High-Quality Asset with Renovated Common Areas

Proximity to Major Athens Developments, Including Proposed Athens Amphitheater Directly South of the Subject

Substantial Value-Add & Mark-to-Market Opportunity

Strong Submarket Performance Drives Positive Financial Trend

Highly-Marketable, Demographically Tailored Unit Mix

The Asset

Property Information

  • YEAR BUILT: 2001
  • UNITS: 160
  • METERING: Individual Electric, Central Water
  • PARKING: Driveway Parking
  • TOTAL SF: 156,480 SF
  • AVERAGE UNIT SIZE: 978 SF
  • SITE ACREAGE: 39.76 Acres
  • DENSITY: 4 Units Per Acre
  • PARCEL NUMBER: 161C1-D-001
  • TYPES OF BUILDINGS: Ranch Style
  • HVAC: Central, Split System with Pad-Mounted Condenser
  • ROOFS: Pitched with Composition Shingles
  • EXTERIORS: Brick Masonry or HardiPlank with Stone Veneer

Unit Amenities

  • Fully Equipped Kitchen
  • Black Appliances
  • Wood-Inspired Flooring
  • Granite-Inspired Countertops
  • Brushed Nickel Fixtures
  • Ceiling Fans
  • Washer and Dryer Connections

Community Amenities

  • Clubhouse with Business Center and Lounge
  • Fitness Center
  • Movie Theater
  • Barbecue and Picnic Area
  • Playground

Location

Photo Tour

Contact Us

Investment Advisors

Financing

Three Alliance Center 3550 Lenox Road, Suite 2600 Atlanta, GA 30326 // T. 404.445.1066

© 2018 :: Berkadia Berkadia® is a trademark of Berkadia Proprietary Holding LLC.

© 2019 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC. Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. For state licensing details for the above entities, visit: http://www.berkadia.com/legal/licensing.aspx

© 2019 :: Berkadia Real Estate Advisors LLC

Berkadia® is a trademark of Berkadia Proprietary Holding LLC.