TIC investors land Georgia apartments

Property amenities a big draw

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Tenant-in-common investors recently acquired The Retreat at Stonecrest apartment community in Lithonia, Ga., for an undisclosed price. Jeffrey E. Smith Cos. sold the 276-unit, class A property at 96 percent occupancy. Located on more than 15 landscaped acres, the property is comprised of 10 residential buildings totaling approximately 288,000 square feet. The average unit size is 1,044 square feet, and the parking ratio is 1.8 spaces per unit. Community amenities include a swimming pool with sun deck, fitness center, playground, and business center with high speed internet. ...