July 26, 2016
CiTYR is a fully integrated New York based commercial real estate investments firm. With a core focus on equity investments, predominantly in the multifamily space, CiTYR targets stabilized, income producing properties in mature markets. Utilization of efficiently capitalized and managed assets provides security in terms of equity preservation and long-term stable cash flow.
Excited to expand their footprint and grow their presence in the southeast, CiTYR successfully closed on the purchase of Amber Place Apartments in Warner Robins, GA earlier this week. Amber Place Apartments is a garden style community, comprised of 392 units and built in 2007. Located 100 miles south of Atlanta, Warner Robins has a thriving economy as its home to Robins Air Force Base. The base represents the area’s largest employer with more than 250,000 civilians, contractors and active military personnel.
CiTYR’s investment portfolio includes the Northeast, central Midwest, Southeast and Mid-Atlantic regions with assets located in Alabama, Oklahoma, Illinois, New York, Texas, Ohio, Kentucky and now Georgia.
CiTYR has partnered with CFLane LLC, a subsidiary of Cocke Finkelstein, Inc. (CFI). Headquartered in Atlanta, GA, CFLane is a fully integrated multifamily real estate services firm which will oversee the management of Amber Place Apartments. In addition to their location based strength, CFLane competitively manages 34 assets within the state of GA and a total of approximately 30,000 units nationwide.
Irwin Boris, Chief Investment Officer for CiTYR states, “We have been eagerly pursuing opportunities in the Atlanta (and metro surrounding) market that would allow us to utilize our Core investments platform. The right time, the right place and the right partner–we are confident this asset will be a triumphant success!” CiTYR invests in value-add multifamily properties nationwide and is actively looking to expand their portfolio; with a 2016 target of 5,000 units, growth is on the horizon.