New York-based Investment Group Acquires Core at Lindbergh Station: Third Apartment Community Acquisition in Southern Growth Areas
GPG Properties, the recently launched investment arm of the Glick Family Porfolio, has closed on Core at Lindbergh Station, a 358-unit contemporary apartment complex in the heart of Atlanta at 741 Morosgo Drive, N.E.Conveniently located between Buckhead and Midtown, Core is close to the Lindbergh Marta train station and two major highways. The seller was AVR Realty Co. and the purchase price was $84 million.
“Core at Lindbergh Station is the last of the three apartment communities we had planned to purchase outside of New York City this year,” says Jason Glick, Managing Partner, GPG Properties. “Our goal was to diversify and build the Glick family portfolio with large multi-family assets in high-growth areas.”
“Atlanta is a vital city that has shown consistent expansion for more than two decades,” adds Randy Glick, President, GPG Properties. “Our management firm has vast experience with select urban markets and Core is ideally positioned in one of the city’s most desirable locations.”
The residences at Core at Lindbergh Station offer a mix of studio, one-bedroom and two-bedroom units, each with either private patios or balconies. In addition to such distinct details as wood-plank floors, oversized windows, walk-in closets and designer lighting, the units include open kitchens with granite countertops, glass mosaic backsplashes, chef-inspired stainless-steel appliances, and washer-dryers. Spa-like bathrooms are sheathed in glass ceramic tiles and include separate showers and soaking tubs.
Among the building-wide amenities are a resort-size pool with large sundeck, hot-tub, seating and cabanas. There is a state-of-the-art fitness center with adjacent yoga studio. For entertainment, Core has a residents’ club with billiards table, catering kitchen and ample seating. There are three beautifully landscaped gardens and a private dog park on the grounds. Two dogs are allowed per unit and each may weigh up to 100 pounds. The full-service complex also offers concierge service with package receiving, free Wi-Fi, valet parking and an on-site garage. For nature lovers, Core at Lindbergh Station is conveniently bordered by public parkland offering more than 400 acres of hiking and bike trails.
“Core is a thriving residential community and an important addition to the Glick Family portfolio,” adds Jason Glick. “The management at Core will continue to be local and able to maintain a consistently high standards of operations.”
Earlier this year, GPG Properties closed on luxury apartment communities in Nashville, TN and just outside of Charlotte, NC. Over the summer in New York City, GPG acquired a mixed-use portfolio on the Upper West Side, comprising 71 apartment units and five grade level retail spaces along Amsterdam Avenue, and a 30-unit multi-family property on the Upper East Side.
About GPG Properties (Glick Property Group)
GPG Properties is the investment arm of the three-generation Glick real estate business run by Alvin Glick, Randy Glick and Jason Glick. It represents holdings that include the Glick family portfolio, comprising approximately 1,200 residential and retail units in Manhattan, as well as multi-family investments throughout the US. Its most recent acquisitions include a 291-unit residential complex in Nashville, TN; 329-unit residential complex in Cornelius, NC; and a 358-unit residential complex in Atlanta. In New York City, the group purchased a 71-unit mixed-use property on the Upper West Side and 30-unit multi-family property on the Upper East Side during third quarter 2018. For more information, please visit www.gpg.properties
