ATLANTA, GA – Joint venture partners PointOne Holdings, Batson-Cook Development Company, and Novare Group have sold Promenade at Newnan Crossing, a 298-unit apartment community with a mix of three-tale buildings, manor-style rental homes and for-rent townhomes on approximately 24.3 acres in Newnan, Georgia.
The multifamily community was sold to Capital Square 1031, a leading sponsor of Delaware statutory trust offerings for Section 1031 exchange and other accredited investors.
The development, which sold for $65.8 million, is part of a 123-acre mixed-use master development that will provide the property s residents with a truly walkable, interconnected community containing an exciting mixture of retail, office, restaurant and residential space. The LINC, a 25.5 mile multi-use pedestrian pathway connecting the entertainment and commerce hubs of Newnan, runs adjacent to the apartment community.
With a working age population of more than 3.7 million people within a 45-minute drive, Promenade at Newnan Crossing is a well-located multifamily project by an experienced team. The location offers direct access to the interstate corridor as well as convenient access to healthcare industry jobs, including the 360,000 square foot Piedmont Newnan Hospital and Cancer Treatment Centers of America.
We are extremely proud to have successfully come full circle with this development, said Ben Colonomos, PointOne Holdings Managing Partner. The joint venture partnership with the help of RAM Partners outperformed its operational goals throughout the lease-up period notwithstanding the limitations set by Covid-19.
Promenade at Newnan Crossing Apartments is another example of a successful execution by PointOne Holdings following our strategy to sell our older vintage value-add properties and pivot to developing well located garden-style, class-A, multifamily properties in major market suburbs said Leo Peicher, PointOne Holdings Managing Partner.
Novare Group want to thank our partners PointOne Holdings and Batson-Cook Development Company for supporting this project and the City of Newnan for the opportunity to develop it, said Jim Borders, President and CEO, Novare Group. This was a successful project for our joint venture and our company, and it is a residential community that will serve Newnan and Coweta County well for generations.
The property was marketed and sold by David Gutting of Newmark Knight Frank. Owing to its superb location, high-barriers to entry, and overall execution of development that blended a differentiated site plot and unique architecture, Promenade was one of the most successful lease-ups I have seen in Atlanta said David Gutting, Vice Chairman of Newmark Knight Frank Multifamily Investment Sales.
The community was designed by Humphreys and Partners Architects, L.P. and Kimley-Horn and Associates, Inc. civil engineers and constructed by Hathaway Construction Services, Inc. The construction lender for the project was NXT Capital.

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HOUSTON, TX – LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, announced the start of preleasing at Taylor Heights, a contemporary apartment community located just northwest of Downtown Houston.
The midrise, four-tale community, which features 363 apartment homes, designer finishes and top-of-market amenities, is situated along Taylor Street just south of Interstate 10 in the greater Houston Heights area. The art-infused neighborhood is considered Houston’s culinary hub and boasts a prime location that provides simple connectivity to many key locales across the city. First go-ins are anticipated for this fall at Taylor Heights, which is offering virtual leasing options.
“Houston Heights is one of the most charismatic areas in the city, and we look forward to joining the neighborhood,” said Ben Breunig, division president of Texas for LMC. “Whether residents want to be near their job or favorite restaurants—or a combination of both—they will be surrounded by opportunities. We look forward to welcoming our first residents and offering a best-in-class living experience in the area.”
Situated at 2000 Taylor Street, Taylor Heights offers commuter-friendly access to the key employment centers in Downtown, the Energy Corridor and The Galleria area. Residents are within a small walk of eclectic Sawyer Yards, the city’s finest creative district, and also within close proximity of the various dining and entertainment options along Washington Avenue.
Taylor Heights offers studio, one- and two-bedroom homes ranging from 595 to 1,425 square feet. Apartment interiors are equipped with Lyric thermostats, quartz countertops, stainless steel appliances, tile backsplashes, under-cabinet lighting, kitchen pendant lighting, soft-close doors and drawers, designer wood-style flooring, walk-in closets and large vanity mirrors. Residents also have access to digital package lockers, EV-charging stations and an air-conditioned bike storage and repair room.
Community amenities include a resort-style pool with sundeck, private cabanas, fireplaces, grills, outdoor kitchen, hammocks, outdoor games and lounge seating, water features, dog park, social lounge with catering kitchen, fenced private yards and immediate access to Heights Hike and Bike Trail, which connects from Taylor Heights’ front door to Downtown. An onsite fitness center includes flex space, free weights, TRX suspension training and top-of-the-line cardio equipment. Additionally, residents can delight in a covered patio known as “The Porch,” which features an outdoor lounge area and entertainment bar.
Taylor Heights marks LMC’s third development either currently leasing or under development in the Houston area. The Maddox in nearby Katy started leasing in 2019 and Bowen River Oaks, under development in the Galleria area, is projected to start leasing in 2022.

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ATLANTA, GA – Providence Real Estate, a multifamily owner-operator, announced the completion of the acquisition of The Stratford Apartment Homes located in the Perimeter Center submarket of Atlanta, Georgia. The property was bought by the Providence Multifamily REIT, Inc., a Providence-managed private REIT that invests in value-add multifamily opportunities throughout the Southeastern United States.
The Stratford was built in 1990 and consists of four residential midrise apartment buildings and a one-tale clubhouse and leasing center. The property is located less than one mile from the largest medical center in Georgia that is home to Northside Hospital Atlanta, Emory St. Joseph’s Hospital and Children’s Healthcare of Atlanta. In addition, the property is located less than one mile from the Perimeter Center s 30 million square foot office market that is home to numerous Fortune 500 companies and the world headquarters of United Parcel Service (UPS), AT&T Mobility, Cox Enterprises, Haverty Furniture and Newell Brands (Rubbermaid). The Stratford is anticipated to undergo extensive exterior and interior renovations.
Providence s CEO Alan Pollack stated, The Stratford s location in the Perimeter Center offers renters unparalleled access to medical, office and shopping, and is a market where Providence has extensive operating experience. Providence s Executive Vice President Kevin Finkel added, The acquisition of the Stratford offered a rare off-market opportunity to own an attractive multifamily property with proven value-add renovation upside potential in the highly sought-after Perimeter Center submarket of Atlanta.

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