C-III Subsidiary Makes Mark in Atlanta Submarket
Resource Apartment REIT III, Inc. has announced on February 12, 2018 that it has agreed to buy Tramore Village, which is located in Austell, Georgia. This area consists of a 324-unit apartment community located right outside of Atlanta, Georgia. Resource Apartment REIT III, Inc. is a company owned by C-III Capital Partners LLC, which is one of the many real estate companies owned by Andrew L. Farkas.
Austell is a submarket of Atlanta that is growing very rapidly, thanks to its proximity to Atlanta. Residents of Tramore Village have access to over 300,000 jobs as well as several medical facilities in the surrounding areas of the apartment complex. This makes the purchase an ideal acquisition for C-III Capital Partners LLC, as well as a growing asset to Andrew Farkas’ company.
With Atlanta, Georgia being as well known as it is, there are several notable companies that have opened up offices right by Tramore Village. Some of these companies include but aren’t limited to AllState Insurance, Vonage Solution, and Wellstar. Residents can access these companies in addition to surrounding health care facilities via public transportation.
C-III is always looking for new opportunities to invest in properties around the country. An example of a similar purchase this company made occurred in December 2017 in Lakewood, a submarket located in Denver, Colorado. Although this purchase was to acquire office space and not an apartment complex, it is also a rapidly growing area in Colorado that offers ample of public transportation, just like Austell.
C-III Capital Partners, LLC acquired Resource Apartment REIT III, Inc. in 2016 and has utilized the company to make purchases such as Tramore Village in up and coming urban areas ever since. C-III owns several other well-known subsidiaries like NAI Global, Real Capital Markets, US Residential Property Management, and many more. The purchase of Tramore Village will continue to push C-III Capital Markets in a positive direction under the leadership of Andrew Farkas.