While scouring the nation for multifamily investments, George Waymire “descended” on Atlanta. An acquisitions vice president with Wilkinson Corp. based in Yakima, Wash., Waymire found Atlanta to be the land of opportunity.
He enlisted our firm's help for two Atlanta acquisitions in June, due to Hartman Simons’ expertise in real estate and the Atlanta market. Read on to hear about Wilkinson Corp.’s entry into the Atlanta market and Waymire’s exciting hobby as an experienced mountain climber. Just take a look at this picture…you have to be intrigued!
HS: Why Atlanta?
GW: We look for markets with a strong economic base and big employers. Atlanta has a diversified economy with a large manufacturing and service sector. We also look at a market’s growth rate. In the 2000 census, Atlanta grew from 4,248,000 people to 5,611,000. The 2015 projection is 6,180,000 people. We are continuing to find quality assets in the metro area that we believe will provide great returns in the future.
HS: Tell us about your metro Atlanta projects?
GW: We purchased two multifamily properties in June at low replacement costs. We are completing extensive capital improvements that should be finished by mid 2012. One property is 138 units in Canton, Ga., built post-2000. The other is in the Stone Mountain area and is 224 units built in the 1980s.
HS: What’s something about Washington state that Southerners should know?
GW: A lot of people think of “the Evergreen State” as a place where it rains all the time and everything is green. This may be true of the western side of the Cascades. However, approximately two-thirds of the state is more of a highland desert. In Yakima, where Wilkinson Corp. is based, we receive less than 10 inches of rain a year.
HS: We had to postpone our chat because you were climbing Mount Rainier. Tell us about your climb!
GW: I am an avid climber and have summited Mount Rainier over 25 times. (14, 411 feet) However, this time was extremely special. I summited with my friend, Jake Olson, and six others. We all watched Jake set a record as the first person to snow kite on the summit of Mount Rainier. (see picture below)