S2 Capital has recently acquired “The Landing at Pleasantdale,” a large apartment community consisting of 618 garden-style units. The gated community spans over 75 acres and is made up of 72 buildings. Originally built in 1985, the property is located at 3497 Meadowglenn Village Lane in Doraville, GA, which is a suburb northeast of Atlanta.
According to S2’s Scott Everett, data shows that there has been an increase in demand for rental properties in Atlanta and the occupancy rate has also seen a positive year-over-year gain since Q1 of 2022. Additionally, rents on the property have decreased by -12% compared to surrounding comparable properties which have seen an increase of +1%. This gives S2 confidence that their value-add business plan will be successful and provide tenants with an exceptional living experience.
As part of their strategy, S2 plans to renovate approximately 90%of the units to compete with other renovated properties within the submarket. With this acquisition, S2 aims to deliver superior living options for tenants while also increasing their market competitiveness.
