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Cortland bought the former Gardens at East Cobb in Marietta, a 484-unit apartment community previously owned by NALS Apartment Homes. The company paid $95.75 million, that’s just under $200,000 a unit. The property has been renamed Cortland Woodlands.

The Atlanta Business Journal reports the property was last sold in 2005, when NALS Apartment Homes, formerly known as N/A Foxwood 54, purchased the community for $36 million.

Cortland was founded in 2005 with a focus on multifamily development in Atlanta. During the economic downturn in 2008, they shifted their focus from developing communities to acquiring and renovating existing multifamily communities. By 2011, they owned and managed 5,000 apartment homes.

Cortland has acquired a portfolio of properties across seven states, bringing the vertically integrated multifamily real estate investment, development, and management company’s total to nearly 85,000 apartment homes. Headquartered in Atlanta, they have regional offices in Charlotte, Dallas, Denver, Greenwich, Houston, Orlando, and Phoenix.

The post Cortland Adds to Atlanta Apartment Portfolio appeared first on Connect CRE.

​  Cortland bought the former Gardens at East Cobb in Marietta, a 484-unit apartment community previously owned by NALS Apartment Homes. The company paid $95.75 million, that’s just under $200,000 a unit. The property has been renamed Cortland Woodlands. The Atlanta Business Journal reports the property was last sold in 2005, when NALS Apartment Homes, formerly …
The post Cortland Adds to Atlanta Apartment Portfolio appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News