FCP expands Atlanta footprint with $116m investment

FCP has announced its acquisition of three Atlanta-area apartment communities within the past three weeks, marking the company’s fourth, fifth and sixth Atlanta apartment investments in 2021. The firm invested $116 million in Springdale Glen in Clarkston, Ga.; Sierra Forest in Mableton, Ga.; and Hawthorne at Sugarloaf (to be rebranded The Asher) in Lawrenceville, Ga. FCP has invested in 24 assets, and the multifamily portfolio in the market now stands at 4,200 units.

“Two of these investments, Springdale Glen and Sierra Forest, are workforce housing communities, well-located in their respective submarkets and strategically positioned near FCP assets that have seen strong performance,” said FCP’s Michael Errichetti. “Springdale Glen is adjacent to our Mirador at Idlewood property, close to major employment centers in a rapidly rising submarket, while Sierra Forest builds on our West Atlanta presence that now includes 2,137 units across 10 properties.”

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