Rincon Partners, LLC (“Rincon”) is pleased to announce the acquisition of Riverview Apartments (the “Property”) in Canton, GA on September 26, 2019 for $18.35 million. The Property is a 138-unit, class B+, multi-family apartment community constructed in 2008.
Rincon’s business plan includes rebranding the property to Aspect on the River and to upgrade the Property’s community amenities including constructing a new fitness center, upgrading the outdoor BBQ area, adding a vehicle gate and new monument signage, as well as, renovating the unit interiors to capitalize on the Property’s dynamic multifamily rental market.
The Property is located within the Cherokee County submarket of the Atlanta MSA, which is one of Atlanta’s top submarkets for business investment and job growth and home to one of the top school districts in Georgia. The Property provides easy access to Interstates 575 and 75, major North/South corridors connecting to Atlanta, GA.
Rincon is headquartered in Phoenix, AZ with acquisition offices in Atlanta, GA and Dallas, TX and targets opportunistic and value add multi-family and self-storage commercial real estate in the Southwest and Southeast United States.
For further information on new acquisitions and joint venture opportunities, please contact Jason Ottman, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959 or Carson Hammer, Director of Acquisitions, in our Atlanta, GA office at (480) 378-3070.