Acquired by StoneBridge in 2013, Spalding Crossing presented a unique opportunity to acquire a largely original 1996-vintage infill apartment community in Sandy Springs, a top performing close-in suburb of Atlanta. Shortly after acquisition, StoneBridge put into place a comprehensive improvement program to upgrade both common areas and unit interiors. This included painting the entire property, replacing roofs, and the addition of new amenities to the pool area and clubhouse. In-unit upgrades include premium faux-wood flooring, upgraded cabinets and countertops, stainless steel appliances, and new lighting and plumbing fixtures throughout.
The upgrades are currently generating an ROI of more than 22% and position the property to achieve rents among the highest of its competitive set.