|Pollack Shores Opportunity Zone Fund – Atlanta Beltline
|Fund Manager or Organizer(s)
|Pollack Shores Real Estate Group
Reputable Atlanta multifamily developer with 13-year track record is seeking to raise ~$30 million to build 319 Class A multifamily units located within an Opportunity Zone. The deal will be structured as a single asset Qualified Opportunity Fund with a 10-year hold period.
The sponsor has already closed on the land and completed all zoning and entitlements. The fund will close in May, and first units are slated to be delivered beginning late 2019.
The site is located at 1099 Boulevard SE, Atlanta, GA 30312, and features direct frontage to the newest section of the Atlanta Beltline that is currently under construction.
The Atlanta Beltline is a 22-mile transit greenway transformed from old railroad corridors. It is now a very popular walking/biking trail that runs through Atlanta’s historic neighborhoods.
Properties in close proximity to the Beltline have shown to achieve rent levels far in excess of comparable properties further from the Beltline.
This property is ideally situated along Boulevard, a major north/south thoroughfare, and sits on the Beltline, giving future residents direct access to the Beltline and superior walkability to restaurants, retail, and cultural amenities nearby.
Contact Jessica Ramsey, 470-419-5258, for more information.
|VP Capital Markets