J.P. Morgan Pays Jim Chapman Communities
$50.75 Million for The Cottages at Ridge Pointe in Athens, GA
ATHENS, GA, (March 16, 2021) – 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, one of greater Atlanta’s premier homebuilders. The 216 unit highly amenitized community of rental ranch cottages was developed by Jim Chapman Communities in 2019-2020 and is located at 805 Zelkova Ridge in Athens, Ga. The Cottages at Ridge Pointe is Athens’ first-of-its-kind deluxe horizontal apartment community, featuring charming single-level, ranch-style homes. Each rental cottage boasts a variety of features including private patios and front-porch entryways, chef-inspired kitchens with granite countertops and subway tile backsplashes, designer lighting, stainless steel, energy-efficient appliances, wide doorways, a zero-step entry into the home, walk-in closets and attached, single car garages.
The centerpiece of the community is its resort-style pool and welcoming 4,000 square foot clubhouse with fitness center, catering kitchen and leasing and management offices. The lush landscaping is professionally maintained, and the community also offers onsite 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.
About J.P. Morgan
J.P. Morgan is a global leader in financial services, offering solutions to the world’s most important corporations, governments and institutions in more than 100 countries. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. The company also leads volunteer service activities for employees in local communities by utilizing its many resources, including those that stem from access to capital, economies of scale, global reach and expertise. www.jpmorgan.com
About Jim Chapman Communities
Jim Chapman Communities is one of greater Atlanta’s premier homebuilders, having developed numerous active adult communities and, now, resort-style cottage home rental communities. An Atlanta native and Certified Professional Home Builder, Chapman is the 2021 President of the Home Builders Association of Georgia. He served as the Chairman of National Association of Home Builders’ (NAHB) 55+ Housing Industry Council in 2016 and as the Chairman of the NAHB’s Land Development Committee for 2019. He recently served as the 2018 President of the Greater Atlanta Home Builders Association and was named 2018 “55+ Builder of the Year” by the NAHB. www.JimChapmanCommunities.com