RPM Living Investments, a full-service apartment management and investment company headquartered in Austin, Texas, has recently acquired Aspire Lenox Park for $85 million. The community consists of 400 units spread across ten buildings and was previously owned by Willow Bridge Property Co., the multifamily division of Dallas-based Lincoln Property Co.
The purchase was financed with a $59.2 million loan from Freddie Mac. Aspire Lenox Park is just under 25 years old and has changed ownership twice since its completion in 2000: first to Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF) for $70.6 million, then to Willow Bridge for $75.3 million ten years later.
With offices located throughout the Southeast including Atlanta, RPM Living continues to expand its portfolio in both intown and suburban areas with various types of apartment communities such as high-rise or garden-style properties.
