Viking Capital Acquires 222-Unit 23Thirty Cobb Apartment Community in the Booming Atlanta Submarket for $41.1 Million
Atlanta, GA – Viking Capital is proud to announce its acquisition of 23Thirty Cobb, a 222-unit apartment community in Smyrna, Georgia, in the Atlanta MSA. The property is located only one mile away from Truist Park, the home of the Atlanta Braves and was acquired from institutional owners.
“With the acquisition of 23Thirty Cobb, Viking Capital adds another East Cobb/Smyrna asset to our portfolio,” said Viking Capital’s CEO, Vikram Raya. “Benefitting from its proximity to Atlanta’s Platinum Triangle/Galleria submarket and the I-75/I-285 interchange, East Cobb is one of Atlanta’s fastest growing and most accessible employment centers.”
Viking Capital plans to upgrade the property by renovating over 80% of the 222 unit interiors and updating the exteriors and amenities. Viking Capital has already begun planning operational efficiencies such as the installation of smart thermostats, tracking/saving real time water consumption and other energy saving features.
“We approach every new deal with a focus on how we can elevate the experience of existing and future tenants,” said Raya. “Viking Capital will continue to prioritize our tenant base to increase the quality of their rental experience, with the expectation that meeting their needs will have a direct and positive impact on outcomes for members of the surrounding community, as well as our investing partners.”
About Viking Capital
Since its 2015 inception, Viking Capital’s principals have grown it’s multifamily, value-add focused portfolio, operating more than 4,000 units worth in excess of $500 million across Texas, the Southeast and Mid-Atlantic.