Atlanta, GA & Nashville, TN GAIA Real Estate, with its institutional partners Amitim Senior Pension Funds and Psagot Investment House, have acquired in separate transactions two newly-constructed class A residential properties.
Station R is a class A, 2017 construction, midrise multifamily property consisting of 285 units located in East Atlanta’s historic and walkable residential neighborhood of Reynoldstown. The second property is the Carillon, a class A, midrise property built in 2016, consisting of 306 units. The property is in Nashville’s historic neighborhood of Germantown.
“GAIA was drawn to these assets by their irreplaceable location and site visibility. We are excited to be a part of the vibrant neighborhoods of Atlanta’s Reynoldstown and Nashville’s Germantown,” said Danny Fishman, managing partner of GAIA. “The quality of the buildings, their amenities, and their proximity to exciting retail, local demand drivers and job growth make this a compelling long-term core investment with compelling upside.”
These acquisitions are a continuation of GAIA’s strategy to buy multifamily in urban, walkable neighborhoods within primary and secondary markets.
”We believe the strong trend of young professionals moving to urban locales will continue and that high -paying jobs looking for talent are following this pattern,” Fishman said.