Collins Group LLC Acquires 680 Units in Marietta.BROOKLYN, N.Y. -- Collins Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control purchased the Lincoln Hills The Lincoln Hills extend along the Mississippi River, starting about 40 miles northwest of St. Louis and extending to Hannibal, located in Lincoln, Pike, Ralls and Marion counties. community from a partnership entity of Lincoln Lincoln, city and district, England Lincoln, city (1991 pop. 79,980) and district, Lincolnshire, E England, in the Parts of Kesteven, on the Witham River. Properties (website: http://www.lincolnapts.com) of Dallas, TX, GE Capital (NYSE NYSE See: New York Stock Exchange : GE) and the American Residential Group for an undisclosed sum. The deal was financed through Wachovia (NYSE: WB). Cushman & Wakefield's Apartment Group acted as broker. "We identified a beautiful asset, a late '80s construction, a brick & masonry masonry: see brick; concrete; stonework; tile. masonry Craft of building in stone, brick, or block. By 4000 BC, Egypt had developed an elaborate cut-stone technique. product owned by a partnership of three major corporate equities having gone beyond their investment frame," commented Collins managing director Ari Parnes. The 680 unit transaction marks the beginning of Collins' acquisition activity in the lucrative suburban Cobb County market. "Collins entry into the Atlanta market has dealmakers talking," Parnes continued. "We like Atlanta, we like Cobb, and this is a(n)...asset in a high-demand market." Collins has been no stranger to the Southeast, completing nine transactions in the region in the preceding months including recent acquisitions in Miami, Birmingham, Washington DC, Montgomery and Baltimore. Collins has been directing its attention southward south·ward adv. & adj. Toward, to, or in the south. n. A southward direction, point, or region. south for the past several years, citing the region's growth as a driving factor in its acquisition policy. Collins has also recently entered under contract to purchase a number of other apartment communities in suburban Atlanta. Collins foresees that the projected positive population and employment trends in the metro Atlanta area, combined with low construction rates for rental properties, will ultimately offer strong returns for investors in today's market. "Rents (at Lincoln) were at a set discount to market based on temporary concessions, and expenses were overboard o·ver·board adv. Over or as if over the side of a boat or ship. Idiom: go overboard To go to extremes, especially as a result of enthusiasm. , which is typical of large corporate ownership...(Collins) identified specific management strategies, tighter management controls on the expense side, which could significantly increase NOI NOI Net Operating Income NOI Notice of Intent NOI Nation of Islam NOI Notice of Inquiry NOI Neuro Orthopaedic Institute NOI New Organizing Institute NOI Notice of Interest NOI No Offense Intended NOI National Olympiad in Informatics ," noted Ari Parnes. Finance & Acquisition VP Jay Herman added that Collins' corporate philosophy is one of reducing expenses while not compromising tenant services. About Collins Group LLC Collins Group LLC is a Brooklyn, New York-based private real estate investment firm with an extensive portfolio of multifamily properties throughout the Eastern U.S. The managing director and principal is Ari S. Parnes, an owner and operator of multifamily properties for over 20 years. Jay Herman is the Senior VP of Finance and Acquisitions, an expert in portfolio and investment opportunity analysis integral in opening up new and emerging markets for Collins for the past decade. Collins maintains a corporate website at http://www.collinsgroupllc.com. |
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