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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 Name Address City, State, Zip Units Built Average Unit SF
Beacon Ridge 5401 Old National Highway College Park, GA 30349 370 1972 879
Paul Vetter
Senior Managing Director 404.445.1068 Paul.Vetter@berkadia.com
ANDREW MAYS (LEAD)
Senior Managing Director
404.445.1067
Andrew.Mays@berkadia.com
Judy MacManus
Managing Director 404.654.2074 Judy.Macmanus@berkadia.com
Matt White
Managing Director 404.445.1070 Matt.White@berkadia.com
Scott Bray
Managing Director 678.388.2507 Scott.Bray@berkadia.com
Mike Riley (LEAD)
Director 470.681.1389 Mike.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 Foundry 316 Columbia Drive Carrollton, GA 30117 Carroll 240 2006 10 Three-Story 14.19 Units Per Acre 45.11 300,456 1,252 Brick and Vinyl Siding Pitched -
Property Info
Investment Highlights
2/2
1/2
Photo Gallery
2017
Renovated
highly amenitized asset with room for growth Access to clubhouse with swimming pool, cabanas, grilling stations, along with full-size washer/dryer in each unit
proven conversion opportunity 31% 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, and resident experience
irreplaceable location The property is a short distance to Carrollton Greenbelt, the longest paved loop trail in Georgia
opportunity to push rent to market Competitors’ rents outpace subject’s in-place rents by $57
recent lease trend Recent leases outpace in-place rents, representing $132K+ in year-one upside
spacious layouts Spacious two-, three-, and four-bedroom units averaging 1,252 SF
Discount to homeownership Monthly mortgage payment ($2,372) for average value home in area outpace subject market rent ($1,779)
Russ Hardy
Managing Director 404.422.0499 Russ.Hardy@berkadia.com
Composition Shingle
IAN SHAW
Associate Director
404.654.2347
Ian.Shaw@berkadia.com
RUSS HARDY
Managing Director 404.422.0499 Russ.Hardy@berkadia.com