Pollack Shores Acquires Suburban Apartment Community
Written by Steve Lubetkin, Globe St.
Multifamily developer and investment firm Pollack Shores Real Estate Group is acquiring Discovery at River Bend in Duluth, GA. The 256-unit community is located at 3350 Peachtree Industrial Boulevard just minutes from Downtown Duluth, the area’s top employers, a grocery-anchored shopping center and several quality restaurants.
The sale price was not disclosed, but the property was previously sold in February 2016 to a joint venture of Admiral Capital Group and McCann Realty Partners, who acquired it from Resource Real Estate for $24.8 million, according to Real Capital Analytics, a proprietary research database.
Discovery at River Bend features 40 one-bedroom units, 153 two-bedroom units and 64 three-bedroom units. Pollack Shores plans to renovate the amenities and interior units of the community.