Lexerd Capital Management LLC, a Summit-based sponsor of private equity funds, announced Monday that one of its funds has acquired an apartment complex in Georgia.
Financial terms of the deal were not disclosed.
Lakeshore Pointe features 102 patio-style units and is located in Houston County, Georgia.
“We are very pleased to announce the acquisition of Lakeshore Pointe. With its current occupancy rate of 98 percent over the last 12 months, strong fundamentals within the rental apartment market in Houston County, along with corporate and business expansion in Warner Robins, we believe this acquisition is an excellent opportunity to increase our presence in Georgia, a target area for our firm,” Albert Lord III, founder and CEO of Lexerd, said.
The property is within close access to Interstate 75, shopping malls and indoor and outdoor entertainment.
“We are passionate about the success of our investments and our resident base, and have decided to rebrand our properties as ‘The Lory’ to benefit both. By expanding our service offering, we optimize our business, increase our geographic footprint and broaden our infrastructure,” Lord said.