#United States #Doraville #Greenwood Star #GSREIT

Expanding Horizons: Greenwood Star Holdings' Latest Acquisition

Greenwood Star Holdings—known for its robust approach in the multifamily properties sector—has recently made headlines with the acquisition of two significant assets in Doraville, Georgia. This strategic move marks an important step for the company as it continues to grow its portfolio through the Greenwood Star Income and Growth Trust (GSREIT).

A Look at the Acquisitions

The two newly acquired properties, Parkside Apartments and Creekside Apartments, add a combined total of 377 units to Greenwood Star's holdings. Parkside Apartments, a substantial 281-unit community, was secured for $31.5 million, boasting a 23% discount compared to similar sales in the area. In tandem, Creekside Apartments, comprising 96 units, was acquired for $15.5 million, representing a striking 35% discount. Both properties come with favorable financing terms, featuring a 3.63% Fannie Mae loan that is set to mature in August 2029.

Lisa Li, the chairman and CEO of Greenwood Star, highlighted Doraville's burgeoning market as a key factor in their investment strategy: "Doraville is an in-demand submarket of Atlanta that continues to demonstrate resilient fundamentals, creating a competitive rental housing environment."

Why Doraville?

Doraville has seen a significant demographic shift in recent years, along with strong job growth, making it a prime location for rental housing investments. The area boasts robust occupancy rates, with the demand for affordable rental options heightened by the high mortgage payments in the surrounding suburbs, which can exceed double the monthly rents at the acquired properties.

Greenwood Star's integrated property management approach allows for enhanced oversight and efficient management of these assets, positioning them to deliver notable value to investors going forward. Lisa Li added, "With our integrated property management capabilities, we believe that Parkside and Creekside are well-positioned to deliver significant value to investors."

The Road Ahead

Looking forward, Greenwood Star remains committed to identifying and acquiring additional properties across the Southern United States. They aim to sustain both stable income generation and long-term appreciation through a disciplined acquisition strategy and comprehensive property management.

This recent acquisition not only strengthens Greenwood Star's portfolio but also highlights the growing attractiveness of multifamily investments in regions like Doraville—an area ripe with potential due to its solid fundamentals and demographic trends. As the real estate market continues to evolve, Greenwood Star’s strategic moves may well set the stage for continued success in the multifamily sector.

About Greenwood Star Holdings

Greenwood Star Holdings is a vertically integrated real estate investment firm dedicated to acquiring, managing, and disposing of multifamily properties. With a commitment to quality and sustainability, Greenwood Star is at the forefront of reshaping the landscape of multifamily investments throughout the Southern United States. For additional information, visit greenwoodstarinvestments.com.