June 13, 2019
Stonemark Adds Cumberland Crossing Apartments to Management Portfolio
Atlanta, GA. (June 2019) – Stonemark Management is now managing Cumberland Crossing Apartments, in Marietta, Ga. 29th Street Capital, which recently acquired the 286-unit property, appointed Stonemark to manage and lease the community. Stonemark will also oversee a capital program to renovate the interiors, upgrade the amenities and enhance curb appeal.
“We’ve managed several communities for 29SC, and are pleased they’ve entrusted us with Cumberland Crossing as well,” said Stonemark President Walt Lamperski. “We believe that our track record in managing upgrades – while negotiating with vendors for maximum savings – will enhance 29SC’s investment in the property reach its potential."
The quiet, gated, pet-friendly community has one-, two-, three- and four-bedroom apartments. It is located in fast-growing Marietta near several major employers, SunTrust Park, upscale shopping options and area universities. Amenities include a pool, fitness center, business center, clubhouse, sauna, tennis court and playground. Apartments have fireplaces, full kitchens, patios or balconies, large closets and more.
“We are excited to continue to grow our partnership with Stonemark in Atlanta. They have outperformed expectations for us consistently and we look forward to another successful transaction,” said Javier Bustillo, Senior VP for 29th Street Capital.
Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Learn more about 29SC at 29thstreetcapital.com.
About The Stonemark Group The Stonemark Group focuses on the acquisition, financing, ownership, management and disposition of multifamily real estate investments in the Southeastern U.S. and Texas. The group includes Atlanta-based Stonemark Equities and Stonemark Management. For more information, visit stonemarkmanagementllc.com.