CORE Real Estate Capital acquires Atlanta-area multifamily community
CORE Real Estate Capital (CREC) has acquired Icon Avondale, a 374-unit, class B+ multifamily community located in Decatur, Ga.
The transaction, for which CREC partnered with Indiana-based real estate company Sterling Group, marks CREC’s 50th real estate investment.
Located at 3330 Mountain Drive, Icon Avondale is part of the Avondale Estates submarket. Originally built in 1972, the community was formerly known as Novo Avondale. The property offers approximately 388,762 square feet of potential rentable space over 38 acres. Apartments are designed as one-, two- and three-bedroom floor plans, some with balconies and screened porches, ranging in size from 745 square feet to 1,200 square feet.
The apartments feature updated kitchens and bathrooms, stainless steel appliances, and new flooring. The new owners plan to add six additional units and will invest in renovations to the building exteriors and common spaces, adding amenities such as a dog park, dog was