Cortland Acquires The Hill, Growing Atlanta Portfolio to More Than 11,900 Units
Cortland Acquires The Hill, Growing Atlanta Portfolio to More Than 11,900 Units
287-unit multifamily property rebranded Cortland at the Hill
For Immediate Release
ATLANTA (DEC. 16, 2019) – Cortland has added to its Atlanta portfolio with the acquisition of The Hill, a 287-unit, Class-A apartment community in the thriving Pill Hill area of Sandy Springs. Cortland has rebranded the newly constructed suburban Atlanta community Cortland at the Hill.
With this acquisition, Cortland, either directly or through its sponsored or managed investment vehicles, now owns 37 assets and more than 11,900 units in metro Atlanta.
Cortland at the Hill is within walking distance from Pill Hill, one of the Southeast’s largest healthcare employment hubs, where more than 20,000 healthcare employees work. The area’s commute options are conveniently located and varied. Medical Center Station, a MARTA stop on the Red Line, is an eight-minute walk away, while access to both GA 400 and Interstate 285 are just minutes from the community.
The apartment homes and amenities appeal to residents looking for convenience or for an opportunity to relax. Apartments feature breakfast bars, quartz countertops and stainless steel appliances in kitchens, as well as built-in bookshelves, garden bathtubs and walk-in closets. A 24/7 fitness center features circuit and resistance training areas to be enhanced by Cortland’s Elevate program, which includes free group fitness classes and discounted personal training and nutrition counseling. Exterior amenities include a leash-free dog park and an expansive courtyard and pocket park, as well as a resort-style pool area with grilling stations and a fire pit.
“The Pill Hill location of this community is very attractive to us,” said Jim Knight, Cortland managing director of investments. “The adjacent hospitals, including Northside, St. Joseph’s and Children’s Healthcare of Atlanta at Scottish Rite continue to expand and to develop land they own in the area. Corporate growth in the area is encouraging as well, with Mercedes-Benz, Inspire Brands, and WestRock Company all recently completing large campuses to accommodate hundreds of employees. The area’s future growth potential is decidedly appealing, and we’re glad to join the greater community through Cortland at the Hill.”
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.
