VIRGINIA BEACH, VA (June 30, 2026) – Croatan Investments (“Croatan”), a rental housing investment manager serving private wealth and institutional capital, is proud to announce the acquisition of Alaire at Morningside, a 110-unit garden-style apartment community located in Atlanta, GA.
Built in 1987, Alaire at Morningside is a multifamily community situated in Atlanta’s highly desirable Morningside-Lenox neighborhood. The property offers a mix of one-, two-, and three-bedroom apartment homes. Croatan plans to execute a comprehensive value-add strategy focused on upgrading unit interiors, enhancing common areas, and completing targeted exterior improvements designed to further elevate the resident experience while preserving the community’s competitive positioning.
Croatan's Outlook
“Atlanta continues to be one of the most compelling multifamily markets in the Southeast, supported by strong employment fundamentals, limited new supply in key submarkets, and long-term population growth,” said Paul Van, Chief Executive and Investment Officer at Croatan Investments. “Alaire at Morningside provides an opportunity to acquire a well-located asset in a highly supply-constrained neighborhood at an attractive basis. We believe the current market environment continues to create opportunities to acquire well-located rental housing assets at attractive basis relative to replacement cost and recent comparable transactions.”
We believe the current market environment continues to create opportunities to acquire well-located rental housing assets at attractive basis relative to replacement cost and recent comparable transactions
The acquisition was sourced off-market through Croatan’s established relationships within the Atlanta brokerage community. The property benefits from its location in the prestigious Morningside-Lenox submarket, one of Atlanta’s most affluent and supply-constrained neighborhoods, where surrounding single-family home values range from approximately $900,000 to $1.5 million. The community offers immediate access to the Clifton Corridor, home to major employment centers including Emory University, Emory Healthcare, and the Centers for Disease Control and Prevention (CDC).
“Alaire at Morningside is exceptionally well positioned within one of Atlanta’s premier infill neighborhoods,” said Matt Roos, Senior Vice President of Transactions at Croatan Investments. “The combination of an affluent surrounding community, proximity to more than 40,000 jobs in healthcare, education, and research, and limited new multifamily development creates a strong foundation for sustained renter demand and long-term value preservation. We are excited to add this asset to our portfolio and execute our vision for the property.”
Croatan’s business plan includes renovating apartment interiors to a premium finish package, modernizing select exterior elements, enhancing landscaping, and addressing strategic deferred-maintenance items. The renovation program is expected to be completed over the next three years.