CAPREIT’s Modernization Strategy

Atlanta—CAPREIT has acquired Preserve at Cascade, a 210-unit apartment community in Atlanta’s eclectic Cascade Heights neighborhood, with plans to renovate the community. “The potential upside of Preserve at Cascade is tremendous. The community is extremely well located on the edge of the Cascade Heights neighborhood, giving residents access to all of Atlanta while still being a bit off the beaten path,” Stephen A. Catarinella, vice president and assistant general counsel for CAPREIT, told MHN. “While the community is already very well maintained, we believe a light modernization of the property will add tremendous value.” Preserve at Cascade consists of one-, two- and three-bedroom apartments, the majority with 9-foot ceilings and third-floor homes featuring vaulted ceilings. All homes include an oversized bathtub in the master bathroom and a washer and dryer connection.

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