RangeWater and Nippon Steel Kowa Real Estate Acquire 228-Unit Apartment Community in Prime Atlanta Neighborhood

The Dakota Range Water Real Estate

“The Dakota is a great addition to our local communities portfolio,” said Josh Colter, Director of Acquisitions for RangeWater. “The Druid Hills neighborhood is especially popular with doctors, Emory staff and students, Center for Disease Control employees, and many Fortune 1,000 companies.”

RangeWater Real Estate and Nippon Steel Kowa Real Estate (NSKRE), advised by Metzler Real Estate, have acquired a large apartment community in the Atlanta metro area.

The collective has purchased Avana Druid Hills, which will be renamed The Dakota at Druid Hills, located at 3471 N. Druid Hills Road in Decatur. It’s part of multi-family real estate company RangeWater’s strategy to continue to meet housing demand by purchasing communities in desirable Sun Belt neighborhoods.

“RangeWater is committed to meeting the growing demand for apartments in the Sun Belt,” said Steven Shores, President and CEO of RangeWater. “Our acquisition team is always looking for opportunities to buy well-maintained communities and add value through renovations and upgrades, as well as strong partners like NSKRE to execute the plan. business. The Dakota at Druid Hills provides an excellent base that aligns with our strategic efforts to improve the lives of those who call it home.

The Druid Hills neighborhood of Decatur is one of Atlanta’s earliest suburbs and is extremely popular with its tree-lined streets, shopping, movie theaters, and convenient location to Emory University and the Centers for Disease Control. The garden-style community was built in 1985 and has 228 units.

“The Dakota is a great addition to our local communities portfolio,” said Josh Colter, Director of Acquisitions for RangeWater. “The Druid Hills neighborhood is especially popular with physicians, Emory staff and students, Center for Disease Control employees, and many Fortune 1,000 companies. We look forward to inviting new residents to join our community and enrich the lives of those who already live there. »

RangeWater will continue to add to the many sought-after Dakota amenities desired by today’s renters, especially with so many working from home or spending free time outdoors enjoying Georgia’s beautiful weather. Current features include an outdoor pavilion, kitchen and picnic areas, swimming pool, private tennis courts, fitness center, auto service center, business center and club- house updated.

Inside, the apartments offer large rooms including a separate dining room, living room and laundry room, outdoor balconies and patios, and gas fireplaces. These units with one bonus bedroom will be converted into three-bedroom apartments. RangeWater will invest in improving interiors to ensure the property maintains a competitive edge.

“Some of our two-bedroom apartment homes will be upgraded to three-bedrooms to meet this underserved need in the Druid Hills submarket,” Colter added. “That alone made this acquisition a very compelling investment for RangeWater.”

Privately held RangeWater was founded in 2006. The company acquires, develops, manages and invests in multi-family communities in the Southeast and Southwest United States, with a $6.3 billion portfolio. Georgia is RangeWater’s largest market, followed by Florida. The business is growing rapidly in the west and southwest of the mountains.

Druid Hills community footage is available here.

About RangeWater Real Estate

RangeWater is a fully integrated, multi-family real estate company creating meaningful experiences for its partners, customers, residents and employees across the Sun Belt and Mountain West. The Atlanta-based company has acquired and developed more than 34,000 multifamily units since its inception in 2006, representing more than $6.5 billion in total capitalization. RangeWater currently manages a balanced portfolio of over 93,000 multifamily units in 11 states. With offices in Atlanta, Dallas, Denver, Tampa and Salt Lake City, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.

About Nippon Steel Kowa Real Estate

Nippon Steel Kowa Real Estate Co., Ltd. (“NSKRE”), is a leading Japanese developer, owner and operator of commercial and residential properties with a 70-year history. The Tokyo-based company has re-entered the US real estate market. For more information about NSKRE, please visit https://www.nskre.co.jp/english/.

About Metzler Real Estate

Metzler Real Estate (Metzler) has over 40 years of experience delivering exceptional investment results across the United States through expert knowledge and a creative approach. For more information about Metzler Real Estate, please visit http://www.metzlerna.com.

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