FCP has paid $40 million for The Estuary Apartment Homes, a 310-unit garden apartment community at 3450 Evans Road in Atlanta.
The acquisition of The Estuary marks FCP’s fourth investment in the Atlanta area this year, bringing the firm’s Atlanta portfolio to approximately 1,750 units.
“The Estuary is a well-located workforce housing community benefitting from great interstate access and a strong school district,” said Alex Cathcart, FCP vice president. “The Embry Hills submarket continues to improve, with changes like the redevelopment of the Kroger-anchored Embry Village just north of the property.” Pinnacle Management, currently managing nine communities for FCP throughout the Southeast, will manage the property.
The Estuary is located near t
