Cortland Acquires Echo Lakeside
296-unit property will be rebranded Cortland Peachtree Corners
For Immediate Release
ATLANTA (SEPT. 13, 2019) – Multifamily real estate investment firm Cortland has added to its Atlanta portfolio of more than 11,000 apartment units with the acquisition of Echo Lakeside in Peachtree Corners, a vibrant north Atlanta suburb. The property has been rebranded Cortland Peachtree Corners.
It will be acquired by Cortland’s Growth and Income fund, which focuses on acquiring core and core-plus properties in Cortland’s southeastern and southwestern U.S. markets.
Construction of the 296-unit Cortland Peachtree Corners, a core-plus property, was completed in April 2019. The community is bordered by two lakes, and amenities include two docks where residents can fish or launch kayaks. Additional amenities include a clubhouse, business center, fitness center, swimming pool, rideshare space and dog park. An 11-mile walking trail connects Cortland Peachtree Corners to Technology Park, an office park home to more than 25,000 workers.
Cortland Peachtree Corners is an additional signifier of Peachtree Corners’ continuing revitalization. In April, the $103 million Peachtree Corners Town Center hosted its grand opening. Once completed, the 21-acre Town Center will provide a mixed-use lifestyle center for Peachtree Corners residents.
“While Cortland Peachtree Corners’ amenities, including canoes and kayaks for exploring the adjacent lakes, are perfect for residents looking to rest, relax and recharge, we’re looking forward to further elevating resident living experiences by implementing Cortland’s approach to management,” Jim Knight, a Cortland director of investments. “We strive to put our residents at the center of our business. We believe our business thrives when we focus on delighting our residents, and that’s what we intend to do at Cortland Peachtree Corners.”
The foregoing press release is for informational purposes only. Nothing contained herein is to be construed as a solicitation to offer investment advice or services, nor solicitation for the purchase or sale of any security. Information about investing in a Cortland fund is only available in the form of a private placement memorandum and other offering documents which contain information to help investors evaluate Cortland funds' investment objectives, risks, fees and expenses, among other factors, before considering an investment.
Cortland is not aware of the criteria on which the awards referenced in this presentation are based nor, the number of advisors surveyed for either award referenced. Cortland did not pay a fee to receive a workplace or size ranking. These rankings are not indicative of Cortland's future performance.
This press release may contain forward-looking statements. The opinions, forecasts, projections, or other statements, other than statements of historical fact, are forward-looking statements. You are cautions not to unduly rely on these forward-looking statements. Due to various risks and uncertainties, actual events or results or the actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained in this presentation may be relied upon as a guarantee, promise, assurance or representation as to the future. These for looking statements have not been reviewed by anyone outside of Cortland, and while Cortland believes the statements are reasonable, they do involve a number of assumptions, risks and uncertainties. Unless required by law, Cortland undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to Report the occurrence of unanticipated events. Cortland's past and current performance are not indicative of future results, and no representation is made that any Cortland investment will achieve its objectives or that any Cortland strategy will be successful. This press release is not personalized investment advice or an investment recommendation from Cortland.