ROSWELL, GA. — A joint venture between Cortland Partners and Harbert Management Corp. has acquired the 664-unit Centennial Ridge, an institutionally-developed community located at 100 Calibre Creek Pkwy. in Roswell, for $38.75 million. The buyers plan to invest $10.6 million to renovate the property. Renovations will include resident amenity improvements, energy efficient upgrades and renovated kitchens, including new granite countertops. Plans also include a redevelopment of the leasing center and clubhouse, which will include a commercial grade health club facility. Current amenities include a lake, jogging trails, two swimming pools, four tennis courts and an outdoor kitchen, fireplace and gazebo. Once renovations are complete, the property will be rebranded as Park 83.
ATL APT. COMPLEX SELLS FOR $38.75M
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