Cocke Finkelstein Inc. Acquires The Park at Vinings in Suburban Atlanta for $49.5 Million
Cocke Finkelstein, Inc (CFI) acquires The Park at Vinings in Smyrna, GA. CFLane will manage the community on behalf of CFI.
ATLANTA (March 24, 2014) — Cocke Finkelstein Inc. (CFI), a full-service multifamily investment firm, has acquired The Park at Vinings, a 484-unit, garden-style apartment community in Smyrna, GA, for $49.5 million.
CFLane, the apartment management subsidiary of CFI, will manage the community, which was 97 percent occupied when the transaction closed.
The Park at Vinings was built in 1980 and sits on more than 60 acres; it offers one-, two- and three-bedroom floorplans. Amenities include a two-story, lagoon-style pool with waterfalls; six lighted tennis courts; volleyball court; pond with a gazebo and picnic seating; playground; car-care center; dog park; and wooded views.
“The Park at Vinings will be an outstanding addition to our portfolio, ” said Byron Cocke, CEO of CFI and CFLane. “This property has performed extremely well in recent years, and the metro Atlanta apartment market should have several years of additional rent growth and increasing occupancy rates on the horizon.”
About Cocke Finkelstein (CFI)
CFI is a privately held Atlanta-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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