Summit-based Lexerd Capital Management LLC, a sponsor of private equity funds, announced Monday that one of its funds has acquired a multifamily property in Augusta, Georgia.
The property, Center West Villas, will be renamed to Pinewood at National Hills. It consists of 20 two-story buildings, totaling 160 units.
This is the third acquisition in Augusta for a Lexerd-based fund.
“We are excited to add this property to our Augusta portfolio. The Center West property is a well-maintained community within the highly desirable area of West Augusta, near retail shopping, and with easy access to I-20. We know the Augusta market extremely well and will continue to look for investment opportunities both in this general area and in the greater Southeastern U.S.,” Albert Lord III, founder and CEO of Lexerd, said.
Financial terms were not disclosed.