Oakwood Capital Completes $8.5M Acquisition of Apartment Complex in Valdosta
Wednesday, June 22nd, 2022
Oakwood Capital announces its purchase of Latitude 30 Apartments, a multifamily property in Valdosta, Georgia for $8.5 million. Located at 480 Murray Road, the property was acquired in the first quarter of 2022, and was transacted with a total Real Property value of $8,581,382.
Latitude 30 Apartments sits on 8.2 acres in northern Valdosta. The complex was built in 1996 in phases and was fully renovated in 2018. The vintage-style complex is two-stories with 131 units. With 146,586 square feet of net rentable area, the average unit size is 1,119 square feet. Community amenities include a clubhouse/leasing center, gazebo, basketball court, grilling and picnic areas, pet areas and care stations, playground, resident business center, sand volleyball court, swimming pool and Wi-Fi. Unit features include a fully equipped kitchen with black appliances, refrigerator with icemaker, microwave oven, breakfast bar or island and tile backsplash, cable and internet connections, ceiling fans, cultured marble vanity top, espresso cabinetry, laundry/utility closet, patio or balcony, washer/dryer hook-ups, walk-in closets, window blinds and wood-style laminate floors.
“With a diverse economic foundation, Valdosta offers an array of employment, educational, and military opportunities that are unique in Lowndes County. As one of Georgia’s fastest growing areas, it is the perfect market for Oakwood Capital to expand our footprint in the state of Georgia,” said Harry Klein, Managing Partner at Oakwood Capital. “Our investment in Latitude 30 Apartments will help meet the demand for surging rent growth in the area. We are excited to be part of this community.”
Oakwood Capital is a real estate acquisition and asset management firm specializing in the purchase of garden style apartment complexes in primary, secondary and tertiary markets throughout the Southeast United States. As an owner-operator, full-service commercial real estate investment company they focus on achieving superior near-term returns and long-term asset appreciation and preservation. Oakwood Capital has offices in Hollywood, Florida, Long Island, New York and Brooklyn, New York. For more information, please visit www.OakwoodRG.com.