SHR Resi Acquires 330-Unit South Hampton Estates Multifamily Community Near Atlanta Airport

ATLANTA – JUNE 21, 2022 – SHR Residential is pleased to announce the purchase of South Hampton Estates, a 330-unit workforce housing apartment community in Atlanta’s College Park neighborhood.

The South Hampton Estates complex is located at 3100 Godby Road near Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport and hometown hub of Delta Air Lines. Terms of the acquisition were not disclosed.

Situated on an expansive 24-acre site, nearly 80% of the units at South Hampton Estates are desirable two-bedroom townhome style apartments, and the spacious floorplans average more than 1,000 square feet per unit. The asset is located in fast-growing College Park, within the “aerotropolis” submarket, which continues to see rapid expansion within the industrial, logistics, manufacturing and film-industry sectors as thousands of new jobs and strong population growth have followed recent developments nearby that have added millions of square feet.

SHR Resi plans to reposition the property into quality workforce housing and will make substantial capital improvements including an overhaul of the property’s common areas, landscaping and amenity package, as well as substantial interior unit renovations to improve the existing condition of the property.

Last year, SHR acquired the 370-unit Biscayne Apartments community nearby and has successfully repositioned that asset, rebranding it as “Beacon Ridge” as part of an equally comprehensive capital program that has dramatically improved the property’s occupancy and curb appeal.

South Hampton is SHR Resi’s sixth Atlanta-area apartment investment since 2021.

“The South Hampton Estates acquisition fits within SHR Resi’s workforce housing investment strategy – the asset is well located and in need of a targeted capital plan to make the community more attractive to families and professionals who live on the south side of Atlanta,” said Foster Durkee, who was recently named President of SHR Residential.

Durkee joined Songy Highroads from Related Companies in New York City. Durkee co-founded SHR Resi in 2022 with Chairman Marvin Banks and Principals David Songy and Todd Nocerini.

Chandler Brown and Taylor Brown, Executive Managing Directors at GREA, represented the Seller.

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