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Praedium Group Acquires Ga Community

by multihousingnews.com posted 8months ago 38 views
The 500-unit multifamily property is spread across 22 three- and four-story apartment buildings in Newnan, Ga.: The Praedium Group has acquired Trees of Newnan Apartments, a 500-unit multifamily community in Newnan, Ga. “This was an exciting investment opportunity for Praedium, as we were able to purchase the property at an attractive basis relative to replacement cost,” Peter Calatozzo, The Praedium Group’s managing director, said. “Since 2010, the Atlanta MSA south of I-20 has seen 14 percent of Atlanta’s MSA population growth, but only 3 percent of the total supply pipeline.

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