Investment Guidance: The Preserve of Athens

Atlas Real Estate Advisors  /   July 15, 2025

The Preserve, a townhome community in Athens, GA, was originally developed in 2006 as a for-sale residential product targeting owner-occupants. However, the 2008 housing collapse disrupted the market, leaving many units unsold and the project in limbo. In 2010, we were approached by an investor who saw an opportunity where others saw risk. We represented them in the acquisition of The Preserve and immediately began working to reposition the property as a high-end rental community.

A Hands-On Approach to Repositioning

From day one, we were deeply involved—not just as brokers, but as long-term partners in the asset’s transformation and success.

Navigating Legal and Title Challenges

We helped our client work through complex legal and title issues during the acquisition, ensuring a smooth transfer of ownership and a solid foundation for repositioning the asset.

Leasing and Property Management

Once acquired, we took over full leasing and management responsibilities. We focused on stabilizing occupancy, increasing rental income, and maintaining the high standards expected of an upscale residential community.

Representing Ownership on the HOA

Understanding how vital strong governance is in communities like this, we served on the HOA board on behalf of ownership—advocating for decisions that aligned with long-term investment goals while supporting the community’s integrity and quality.

A Record-Breaking Exit

In 2021, more than a decade after repositioning began, we successfully listed, marketed, and sold The Preserve for $22.7 million—the largest transaction in Clarke County that year. Our deep knowledge of the asset and market, combined with our long-term involvement, made us the ideal team to lead the sale and deliver an outstanding result for our client.