WestHaven at Vinings
In its second US multifamily sector investment in FY 2016, which is valued at USD 25 million, VCBank acquired a 90 per cent interest in the WestHaven at Vinings property in Atlanta, Georgia, USA. The property is a 610-unit garden and town home-style apartment community located within the exceptional Smyrna submarket, approximately 12 miles northwest of downtown Atlanta.
WestHaven at Vinings consists of a family-friendly mix of spacious one-, two- and three-bedroom units built to an “A” standard, with an amenity package that sets it above other properties in the market. Amenities include four swimming pools, four tennis courts, fitness centre, barbeque grill area, business centre, and two clubhouses, located amid scenic landscaping. Such amenities, combined with its favourable unit mix, makes the property extremely competitive against comparable properties, while appealing to a wide range of potential tenant profiles.
The setting of WestHaven at Vinings is excellent to support long-term value, both in terms of its location within the metro area and its highly attractive site. The property benefits from direct access to the Cumberland / Galleria commercial district, which contains 17 million square feet of office space and 3 million square feet of retail space. With easy access to Interstates 75 and 285, commuting to the area’s demand generators such as the Home Depot and Suntrust Park, or throughout the Atlanta metro area, is extremely convenient.