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Cushman & Wakefield Arranges $76.5M Sale for Audubon Communities

Portfolio Sale Includes Three Properties in Northeast Atlanta

ATLANTA, September 20, 2017 – Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged a $76.5 million sale of a three-property portfolio located in Northeast Atlanta. Mike Kemether and Tyler Averitt of Cushman & Wakefield represented the seller, Audubon Communities, in the transaction.

“These properties were our first post-recession acquisitions in Atlanta, and each required a multi-million-dollar investment to renovate and reposition them” said Christopher Edwards, Managing Director, Audubon Communities. “After owning them for six years, it was a difficult decision to sell the portfolio, but the timing was right to move on. We’re confident the new owners will also have great success with these properties.”

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Audubon Communities Acquires Flood Damaged Baton Rouge Multifamily Property in $33 Million Deal

ATLANTA (August 24, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition and management of multifamily properties throughout the Southeast, has completed a $33.3 million acquisition of the 624-unit St. Jean apartment complex in Baton Rouge, Louisiana. Audubon made the purchase with its New York-based partner RCG Longview.

The property was badly damaged in a record flood last year, and will undergo a complete renovation and be renamed The Reserve at White Oak.

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Audubon Communities Acquires Gainesville Multifamily Property in $22 Million Deal

ATLANTA (July 27, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition and management of multifamily properties throughout the Southeast, has
purchased the 292-unit Lenox Park complex in rapidly growing Gainesville, Georgia for $22 million. The property will be renamed Peaks at Gainesville.

Audubon plans to invest nearly $3 million in improvements to the property, which was built in
2000 and consists primarily of large two- and three-bedroom apartments that average 1,100 square feet, making it ideal for families and roommate living arrangements.

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Audubon Communities Welcomes First Residents Back to Flood-Ravaged Apartment Community in Baton Rouge

ATLANTA (July 11, 2017) – Audubon Communities, an Atlanta-based company that specializes in the acquisition and management of multifamily properties throughout the Southeast, has begun leasing apartments at its Bella of Baton Rouge apartment community, which was devastated in record floods last year.

The apartment complex will be the first to reopen in the Sherwood Forest submarket after many residents were displaced by a storm last August that dumped two feet of rain on Baton Rouge and other communities in Louisiana. Bella of Baton Rouge opened its first building in late June, and will steadily re-open others in the months ahead, with the expectation of having all
28 buildings open by the end of the year.

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Audubon Communities Completes Forest Hills at Vinings
Apartment Renovation With New Amenities Building

ATLANTA (July 10, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition, repositioning and management of multifamily properties throughout the Southeast, has capped a three-year, $4.3 million renovation and upgrade of the Forest Hills at Vinings apartment community with the opening of a new amenity building.

After acquiring Forest Hills at Vinings in late 2014, Audubon embarked on a major interior and exterior renovation to upgrade and reposition the asset to better compete with newer properties included installing new energy efficient windows and doors, and replacing the failed cedar siding with more durable fiber cement siding. Other exterior improvements included new privacy fencing, and a new, more contemporary wood and metal entrance canopy over the townhome apartments.

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Audubon Communities Acquires 10 Perimeter Park Apartments

ATLANTA (May 15, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition, repositioning and management of multifamily properties throughout the Southeast, has acquired 10 Perimeter Park apartments and will undertake a project to renovate and upgrade the 230 Class A units and amenities.

Opened in 2008, 10 Perimeter Park sits in the middle of Atlanta’s top employment center, which consists of Perimeter Center and the medical cluster of Northside Hospital, Children’s Healthcare of Atlanta, Emory Healthcare and St. Joseph’s Hospital. Perimeter Center has 31 million square feet of office space and millions of square feet of retail, led by the 1.5-million-square-foot Perimeter Mall.

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Updated American Can Shops to Bring Improved Retail Options to New Orleans’ Mid-City Area

NEW ORLEANS (April 27, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition, repositioning and management of multifamily properties throughout the Southeast, has launched renovations of the retail space in the landmark American Can Apartments development in the vibrant Mid-City neighborhood. The project was designed by the local architectural firm Eskew+Dumez+Ripple, and Malin Construction will serve as the general contractor.

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Inside Today’s Reimagined, Reenergized Clubhouses

ATLANTA (April 27, 2017)  – Say goodbye to tennis courts and drab, windowless fitness centers. Say hello to color-splashed clubhouses with open floorplans, high-end coffee bars, and outdoor fireplaces and kitchens.

Call it the “Starbucks effect” or the “Millennial effect.” Either way, the big trend in multifamily properties is to renovate or build anew clubhouses that serve as a communal space for residents to gather, relax, play and enjoy upscale amenities that the designers of those dated 1970s clubhouses never imagined.

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Updated American Can Shops to Bring Improved Retail Options to New Orleans’ Mid-City Area

NEW ORLEANS (April 27, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition, repositioning and management of multifamily properties throughout the Southeast, has launched renovations of the retail space in the landmark American Can Apartments development in the vibrant Mid-City neighborhood. The project was designed by the local architectural firm Eskew+Dumez+Ripple, and Malin Construction will serve as the general contractor.

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Phase 2 of Audubon Communities’ Westpark Club Ends Decade-long Athens Apartment Drought

ATLANTA (April 24, 2017) – Audubon Communities, an Atlanta-based company specializing in
the acquisition, repositioning and management of multifamily properties throughout the
Southeast, is breaking a decade-long drought in construction of market-rate apartments in
Athens.

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Audubon Creating One Great Property – Corners at Holcomb Bridge – From Two Flawed Complexes

ATLANTA (March 23, 2017) – Audubon Communities, an Atlanta-based company specializing in the acquisition, repositioning and management of multifamily properties throughout the Southeast, is putting the finishing touches on the Corners at Holcomb Bridge, a unique project in Peachtree Corners, Georgia, in which two existing multifamily properties are being combined into one highly attractive apartment community.

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Audubon Communities Transforms and Recapitalizes Two Multifamily Properties in Decatur, GA

ATLANTA (Feb. 13, 2017) – Audubon Communities, an Atlanta-based company specializing in the
acquisition, repositioning and management of multifamily properties throughout the Southeast, today
announced a $26.3 million recapitalization of two multifamily properties in Decatur, Georgia.

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