Cocke Finkelstein Acquires Peppertree Apartments
CFLane Acquires Peppertree Apartments in Winchester, VA on March 18, 2014.
ATLANTA (March 18, 2014) — Cocke Finkelstein Inc. (CFI), a full-service multifamily investment firm, has acquired Peppertree Apartments, a 194-unit multifamily community in Winchester, Va., for $14.1 million. CFLane, the apartment management subsidiary of CFI, will manage the garden-style community.
Peppertree Apartments, located about 80 miles west of Washington D.C., was 94 percent occupied at the time of closing.
“Expanding the presence of CFI and CFLane in the Mid-Atlantic region is a major goal of ours in 2014, and this acquisition is an important step toward meeting that objective,” said Byron Cocke, CEO of CFI and CFLane.
“The Mid-Atlantic is a great area for the company’s growth because of its strong employment and economic drivers, and its adjacency to our existing footprint,” Cocke added. “We are excited about bringing this property into our portfolio, and we feel it is well positioned for long-term success.”
About Cocke Finkelstein (CFI)
CFI is a privately held Atlanta, Georgia based real estate and investment management firm, founded in 2004. Since inception, CFI has evolved into a full-service real estate investment, multifamily property management, asset management, and consulting firm, providing services to owners, investors and financial institutions throughout the country. Affiliated entities provide vertically integrated services including property management operations, general contracting, due diligence, property inspections, information technology, human resources and accounting.
As an affiliated entity of Cocke Finkelstein, Inc. (CFI), Atlanta-based CFLane manages owned and third-party multifamily real estate. It currently manages approximately 40,000 apartment units in 18 states in a region stretching from Maryland to Nevada. The services it provides for apartment owners include property operations; general contracting, construction management and capital improvement programs; property inspections and due diligence; compliance; accounting, budgeting and reporting; human resources and payroll, technology solutions, legal; and taxes and insurance.
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