40-unit duplex community closed February 22nd, 2023
Convolo Capital expands its foothold in Athens, GA, with the acquisition of Park Oaks, a 40-unit duplex community. Built in 2001, Park Oaks offers a mix of three-bedroom, two-bathroom units spanning 1,218 square feet and two-bedroom, two-bathroom units at 1,024 square feet. This attractive property, comprising 20 duplex buildings spread across 22.92 acres, presents an enticing investment opportunity.
Situated along US-441, a major thoroughfare linking Athens to Commerce, Georgia, Park Oaks benefits from robust growth in the region over the past five years. Athens, home to the University of Georgia, boasts impressive accolades as the 2021 and 2022 National Champions in College Football. Supply-constrained counties like Athens and Commerce present limited development opportunities in the coming years, making Park Oaks a rare find in a high-growth area.
The property's recent completion of many capital expenditure projects enhances its turnkey status. Additionally, Park Oaks benefits from attractive fixed-rate debt assumptions, offering flexibility for various exit strategies depending on market conditions. With Athens ranking 33rd nationally in projected job growth through 2060 and Jackson County experiencing a 25% population increase since 2010, Park Oaks aligns with Convolo Capital's strategic investment objectives.
Convolo Capital leverages Park Oaks' prime location and promising market dynamics to further strengthen its portfolio in the thriving Athens real estate market.
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