J.P. Morgan pays $50.75M for The Cottages at Ridge Pointe

Marietta Daily Journal, Ga.
·1 min read

Mar. 17—New York-based J.P. Morgan, an American multinational investment bank and financial services holding company, has purchased The Cottages at Ridge Pointe for $50.75 million from Vinings-based Jim Chapman Communities.

The 216-unit community of rental ranch cottages was developed by Jim Chapman Communities in 2019-2020 and is located at 805 Zelkova Ridge in Athens. The Cottages at Ridge Pointe is Athens' first-of-its-kind deluxe horizontal apartment community, featuring single-level, ranch-style homes.

The centerpiece of the community is its resort-style pool and 4,000 square foot clubhouse with fitness center, catering kitchen and leasing and management offices. The landscaping is professionally maintained, and the community also offers on-site management by Atlanta-based RangeWater Real Estate, which includes 24-hour emergency maintenance service.

For more information, visit www.ridgepointeathens.com or call 706-715-5391.