Aragon Holdings Invests $130M in Atlanta Apartments
Thursday, August 3rd, 2017
Aragon Holdings announced the closing of its fourth apartment property in Atlanta, Georgia. This brings Aragon's acquisition costs for its four-property Atlanta portfolio to over $130 million.
The newly acquired property, the 352-unit Amber Chase Apartments, was built in 2000. It was purchased using Aragon's newly formed private equity fund, "Aragon Multi-Family Fund VII". This acquisition increases Aragon Holdings' national multi-family portfolio to nearly 15,000 apartment units, valued at over $1.5 billion.
Dan Guy, President of Aragon Holdings, stated, "Our existing properties in Atlanta have performed extremely well for Aragon. We are pleased to expand our portfolio in a city that has solid track records for outperforming the national economy in terms of both job and population growth. These standards are used for all of our multi-family acquisitions, as we continue to pursue multi-family acquisition opportunities nationwide."