Excerpted from PEI Media story.
Tenth Street Ventures and Braden Fellman Group bought multiple apartment buildings in Morningside/Lenox Park, Atlanta, with plans to create a unified community by rebranding them as one garden style apartment complex called The Piet. The exterior, to be painted by artist Chastain Bernard will be inspired by the neoplasticism movement with visual compositions of vertical and horizontal shapes using only black, white and primary colors to simplify and unify the buildings’ exteriors.
In this nearly $42 million transaction, TSV & BFG bought 13 buildings from multiple owners, totaling 335 units over 12.5 acres. At complex, anchored by the 2175 Lenox Road NE building, the team also plans to connect the 1960s- and 1970s-era buildings with walking trails, two pools, several dog parks, more than a dozen grill stations, bocce ball courts and putting greens. Jake Reid, Chad DeFoor and Roger Schoerner of Franklin Street’s Atlanta multifamily investment sales team, brokered the deal. Wesley C. Turner with Krevolin Hurst was the real estate attorney for the deal.