TIC investors sink money into Georgia housing

Triple Net Properties LLC represented tenant-in-common investors in the recent acquisition of Villas Apartments in Jonesboro, Ga.

The value of the transaction was not disclosed.

Villas Apartments is a 256-unit multifamily community that was completed in 2003, and consists of one- and two-bedroom apartment units housed in 12 two- and three-story apartment buildings. Property amenities include outdoor grills, a fitness center, an outdoor swimming pool, and tennis and volleyball courts.

Villas by the Lake LLC, an Ohio limited liability company, sold the property, which was 94 percent occupied at closing on July 7.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.