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The Opportunity
Executive Summary
Berkadia is pleased to exclusively present Lakeside at Arbor Place, a striking 246-unit multifamily community located in the high-growth West Atlanta Industrial Corridor offering an outstanding Value-Add Opportunity. Built in two phases in 1988 and 1996 and situated on 25+ acres, the Property features ample green spaces surrounding a six-acre lake, providing residents with serene views embedded within a mature landscape of trees and a beautifully landscaped environment. Benefiting from its strategic location less than one mile from I-20, the Property offers unmatched connectivity throughout metro Atlanta and a 10-minute drive time to the Fulton Industrial CID, the largest industrial community improvement district on the eastern seaboard and home to 32K+ jobs. The Property is immersed within 5M+ SF of retail within a five-minute drive time and is directly walkable to a Kroger anchored shopping center, a Publix, and a Chick-Fil-A.
Due to its strategic location, superb area demographics, limited new supply, and Douglas County’s explosive population and job growth, the Property has performed exceptionally well, boasting total rent growth of 28% since 2021 while maintaining an average occupancy of 95%. The next owner will have the opportunity to renovate unit interiors with luxury-level finishes and close the gap between vintage and new product peers. This, in addition to a series of revenue boosting strategies, has the potential to generate an additional $915,000 of income annually and reposition the Property as the go-to luxury provider in the area. Lakeside at Arbor Place represents an excellent opportunity to acquire a high-performing value-add asset with plenty of headroom for significant rental upside.
EXCELLENT HISTORICAL OPERATIONS
Investment Highlights
Effective rent growth of 28% since January 2021
Current physical and leased occupancy of 96% and 98%, respectively, with an average occupancy of 95% over the past 3+ years
MARket
PHOTO GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
John Bray
Senior Managing Director 404.654.2595 john.bray@berkadia.com
Mortgage Banking
RUSS HARDY
Lead Advisor
Managing Director 404.422.0499 russ.hardy@berkadia.com GA, DRE #347522
Andrew Mays
Senior Managing Director 404.445.1067 andrew.mays@berkadia.com
GA, DRE #238374
Paul Vetter
Senior Managing Director 404.445.1068 paul.vetter@berkadia.com
GA, DRE #261596
Investment Sales
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Douglas County has seen remarkable economic growth, fueled by its strategic location near Metro Atlanta, its pro-business environment, and strong infrastructure. The county’s proximity to major transportation networks including I-20, I-285, and the Hartsfield-Jackson International Airport has made it an attractive destination for businesses in logistics, manufacturing, and warehousing, while continued investment in industrial development, film production, medicine, and public works projects has created numerous job opportunities, driving economic expansion and diversifying the regional economy. Coupled with a strong sense of community, excellent schools, and a rising population, Douglas County has emerged as a vibrant hub of economic activity in the region.
Property Tour
Lakeside at Arbor Place
PREMIER VALUE-ADD OPPORTUNITY
3000 HIGHWAY 5 | DOUGLASVILLE, GA | 246 UNITS | 1988/1996 COMPLETED
DOC CENTER
DOC CENTER
PREMIER VALUE-ADD OPPORTUNITY
Current ownership has completed $1.4M in capital enhancements, laying the foundation for income growth opportunity
Seller’s Renovated rents average $469 beneath new product like-kind peers and Seller’s Classic rents average $586 beneath new product like-kind peers
Opportunity to capture $915K+ in additional annual income through luxury-level renovations and additional revenue boosters
BEST OF MARKET CONNECTIVITY
Strategic Douglas County location along I-20 with proximity to I-285 provides best of market connectivity to Atlanta’s premier employment hubs with 530K+ jobs
10-minute drive time to the largest industrial CID on the eastern seaboard encompassing 60M+ SF of industrial space and 32K+ jobs
5M+ SF of premier retail within a 5-minute drive time
EXPLOSIVE ECONOMIC EXPANSION AND LIMITED SUPPLY
Billions of dollars in recent investment from tech, film, and medical giants brings thousands of new jobs (44K+ within a 5-mile radius) and provides path for continued growth
More than 8.1M SF of industrial development currently under construction in Douglas County
Only 4 conventional market-rate multifamily properties (1,518 units) delivered in Douglas County over the past 10 years with no deliveries projected past 2024
SUPERB AREA DEMOGRAPHICS
Average Douglas County HHI of $98K and projected population growth of 9% over the next five years
28% employment growth by 2050 (14,300 jobs)
Richard Levine
Senior Managing Director 404.654.2590 richard.levine@berkadia.com
Josh Finley
Managing Director 404.654.2594 josh.finley@berkadia.com
3000 HIGHWAY 5 | DOUGLASVILLE, GA | 246 UNITS | 1988/1996 COMPLETED
Tom Genetti
Managing Director 205.403.5545 tom.genetti@berkadia.com
VIDEO TOUR
Douglas County - By The Numbers
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Atlanta Office
Three Alliance Center 3550 Lenox Road, Suite 2600 Atlanta, GA 30326
65%
POPULATION GROWTH Since 2000
$98,000
Average Household Income
28%
Employment Growth by 2050
36%
Renter Occupied Housing Within 3-Miles
14,300
Jobs Added by 2050
Douglas County - By The Numbers
Premier Value-Add Opportunity
3000 HIGHWAY 5 | DOUGLASVILLE, GA | 246 UNITS | 1988/1996 COMPLETED
Classic
Seller Renovated
