Passco Companies, LLC, a real estate investment firm based in Irvine, Calif., specializing in the acquisition and asset and property management of multifamily, retail and office properties throughout the U.S, has acquired The Glen at Alexander, a luxury multifamily complex in Augusta, GA, announced Passco President Bill Winn.
Located at 1040 Alexander Drive, this Class A, 216-unit apartment complex is located in the affluent National Hills neighborhood, which has an average household income of $100,000 annually. The property is near the heart of downtown and less than five miles from Georgia Health Sciences University and Medical Center; minutes from the Augusta National Golf Club, which is home to the Masters Golf Tournament; and nearby two major shopping centers, as well as the Augusta Riverwalk and park. The location also provides easy access to River Watch Parkway/Route 104 and Carl Sanders Highway/Interstate-20.
“Since the property is ideally located near one of Georgia’s most respected medical colleges and academic medical center, there are a great number of medical professionals living in the area and that population is expected to continue to grow,” commented Winn. “We plan to make quality upgrades to the unit interiors,” he added, suggesting that the location, along with the new renovations, provides an opportunity to increase rents and significantly improve rental revenues.
The Glen at Alexander is classic southern brick design, constructed of high-quality materials and offers spacious one-, two- and three-bedroom, energy efficient floor plans, ranging in size from 975 to 1,350 square feet. Units have nine-foot ceilings with crown-molding accents, garden tubs in bathrooms, gas fireplaces, utility rooms with full-size washer/dryer included, and large private patios or balconies.
A pet-friendly community, the complex features an onsite dog park and other amenities, including: a resort-style pool; clubhouse with a business center, Wifi service, game room, fitness center and tanning
beds; playground; and putting green, as well as tennis and basketball courts. Services include: concierge service, valet trash removal, recycling center and gated entrance. Detached garages, corporate suites and furnished units are available.
For more information about The Glen at Alexander, visit: www.glenalexanderapts.com.