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MORTGAGE BANKING
INVESTMENT SALES
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1,252
AVG SF
2006
BUILT
240
UNITS
The Asset
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316 Columbia Drive Carrollton | GA 30117
316 Columbia Drive Carrollton | GA 30117
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Property Info Summary
Property NameAddressCity, State, ZipUnitsBuiltAverage Unit SF
Beacon Ridge5401 Old National HighwayCollege Park, GA 303493701972879
Paul Vetter
Senior Managing Director404.445.1068Paul.Vetter@berkadia.com
ANDREW MAYS (LEAD)
Senior Managing Director
404.445.1067
Andrew.Mays@berkadia.com
Judy MacManus
Managing Director404.654.2074Judy.Macmanus@berkadia.com
Matt White
Managing Director404.445.1070Matt.White@berkadia.com
Scott Bray
Managing Director678.388.2507Scott.Bray@berkadia.com
Mike Riley (LEAD)
Director470.681.1389Mike.Riley@berkadia.com
RICHARD LEVINE
Senior Managing Director
404.654.2590
Richard.Levine@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
John.Bray@berkadia.com
JOSH FINLEY
Managing Director
404.654.2594
Josh.Finley@berkadia.com
3550 Lenox Road, Suite 2600
Atlanta, GA 30326
713.974.T: 404.445.2600 | F: 404.445.1065
ATLANTA OFFICE
THREE ALLIANCE CENTER
Property Name Address City, State, Zip County Units Built Buildings Stories Density Site Acreage Total Rentable SF Average Unit SF Exterior Roof
The Foundry316 Columbia DriveCarrollton, GA 30117Carroll240200610Three-Story14.19 Units Per Acre45.11300,4561,252Brick and Vinyl SidingPitched -
Property Info
Investment Highlights
2/2
1/2
Photo Gallery
2017
Renovated
highly amenitized asset with room for growthAccess to clubhouse with swimming pool, cabanas, grillingstations, along with full-size washer/dryer in each unit
proven conversion opportunity31% of units are eligible to convert from student housing to conventional units, meeting demand for well appointed units in an undersupplied market while increasing future buyer pool
turnkey asset$8,074/unit invested in asset preservation, curb appeal, andresident experience
irreplaceable locationThe property is a short distance to Carrollton Greenbelt, thelongest paved loop trail in Georgia
opportunity to push rent to marketCompetitors’ rents outpace subject’s in-place rents by $57
recent lease trendRecent leases outpace in-place rents, representing $132K+ in year-one upside
spacious layoutsSpacious two-, three-, and four-bedroom units averaging 1,252 SF
Discount to homeownershipMonthly mortgage payment ($2,372) for average value home in area outpace subject market rent ($1,779)
Russ Hardy
Managing Director404.422.0499Russ.Hardy@berkadia.com
Composition Shingle
IAN SHAW
Associate Director
404.654.2347
Ian.Shaw@berkadia.com
RUSS HARDY
Managing Director404.422.0499Russ.Hardy@berkadia.com
