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Commercial Real Estate

Jan. 31 - ​K​ole Management Company Acquires Atlanta Area Apartment Community, Heritage at Riverstone

Category: Commercial Real Estate

Savannah Business Journal Staff Report

January 31, 2018 - Kole Management Company (KMC), a Savannah-based real estate investment and management company, has acquired Heritage at Riverstone, a 240-unit apartment community in Canton, Ga.

Heritage at Riverstone is the sixth apartment community acquired by KMC outside Savannah and is the first apartment community in the greater-Atlanta region. KMC also owns and operates seven apartment properties in Savannah, Garden City and Richmond Hill. Collectively, KMC owns and operates about 2,500 total apartment units.

Heritage at Riverstone, a class A gated property built in 2001, features one-, two- and three-bedroom units with a variety of upscale features including vaulted ceilings, garden tubs, walk-in closets and built-in bookshelves. The landscaped 22-acre property includes a fitness center, a pool with a sundeck and stone cabana, a picnic pavilion and private garages available for rent.

KMC plans to make a number of significant improvements that include adding a fireplace to the pool cabana, installing a fire pit, a pet grooming station and dog park and building a community room with roll-up doors adjacent to the pool.

Canton is located about 40 miles northwest of Atlanta in Cherokee County, which is the fourth fastest growing county in Georgia and boasts an award-winning public school system with four STEM (science technology engineering and math) academies.

“Heritage at Riverstone is a fabulous opportunity for KMC,” said company president Jeff Kole. “It’s a beautiful, residential-style community in a high growth area with excellent schools and high-end retail shopping. We’ll be selectively improving the property, which will result in a top quality living environment for our residents.”

 

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