Nonprofits Are Seizing Their Moment To Buy Commercial Properties At A Discount
04
Jun

Nonprofits Are Seizing Their Moment To Buy Commercial Properties At A Discount

Wellroot Family Services was looking for a new place to house teenagers who were aging out of the Georgia foster care system when it came across an aging apartment building in Dectaur with an owner that didn’t want to pay to bring it up to standard.
The owner, local development firm Braden Fellman Group, faced opposition over plans to raze the 17-unit building and turn it into townhouses. So instead, the developer sold the property to Wellroot in 2022 for $3.4M — a discount compared to the average apartment sale in Atlanta at the time.
“We are constantly looking, keeping our eyes and ears open for real estate opportunities,” Wellroot… Bisnow News FeedRead More