Aragon Holdings has acquired Atlanta-based Amber Chase Apartments, a 352-unit apartment property. The price of the acquisition was over $130 million.
LOS ANGELES, CA–(Marketwired – Aug 2, 2017) – Aragon Holdings (www. AragonUSA. com) announced the closing of its fourth apartment property in Atlanta, Georgia. This brings Aragon’s acquisition costs for its four-property Atlanta portfolio to over $130 million.
The newly acquired property, the 352-unit Amber Chase Apartments, was built in 2000. It was purchased using Aragon’s newly formed private equity fund, “Aragon Multi-Family Fund VII”. This acquisition increases Aragon Holdings’ national multi-family portfolio to nearly 15,000 apartment units, valued at over $1.5 billion.
Dan Guy, President of Aragon Holdings, stated, “Our existing properties in Atlanta have performed extremely well for Aragon. We are pleased to expand our portfolio in a city that has solid track records for outperforming the national economy in terms of both job and population growth. These standards are used for all of our multi-family acquisitions, as we continue to pursue multi-family acquisition opportunities nationwide.”
Aragon Holdings is a Private Real Estate Investment and Fund Management Company based in Los Angeles, California, that forms multi-family funds to provide monthly tax deferred income to high net worth and family office investors. The company currently owns and manages properties in Albuquerque, Atlanta, Dallas, Denver, Fort Worth, Houston, Kansas City, Orlando, Phoenix, Salt Lake City, San Antonio, and St. Louis.