On March 22, Resource Apartment REIT III, Inc. (the “REIT”), through a wholly owned subsidiary, completed the purchase of Tramore Village in Austell, Georgia. Built in 1999, the 324-unit community features numerous amenities, including two swimming pools, a fitness center, and a lighted tennis court. Tramore Village fronts the highly-trafficked East-West Connector, offering a quick commute to over 450,000 jobs and 25 million square feet of Class A office space along metropolitan Atlanta’s I-75 corridor.
Atlanta’s positive business dynamics have succeeded in attracting major Fortune 500 corporate relocations and expansions, including Wellstar, AllState Insurance, and Vonage Solution. Tramore Village is well positioned as an easy access point to a flourishing specialty healthcare employment corridor within a submarket that has attracted potential renters looking for desirable and affordable options.