Beverly Hills-based ExchangePoint Properties LLC today announced the completion of a TIC transaction for Cameron Brook Apartments, a 440-unit apartment complex in Atlanta, Ga.
Within five months of acquiring the property for $26.2 million, ExchangePoint completed the sale of the apartment complex to 35 TIC investors.
A $3 million renovation program is planned for the property, which is located at 4659 Dawson Blvd. ExchangePoint plans to complete extensive interior and common-area upgrades, which will allow the complex to compete with newer class ‘A’ apartments in the area.
The Cameron Brook Apartments complex was built in 1986 and has a variety of one-, two- and three-bedroom units. Amenities at the complex include a club house, fitness center, two tennis courts, pool area and playground.
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