FCP has acquired six Atlanta-area apartment communities in the past two weeks totaling 1,975 units, bringing the firm’s 2021 acquisition count in the region to 12.
FCP has invested in 30 assets since its entry into the Atlanta market in 2015, and its multifamily portfolio in the market now stands at 6,178 units. FCP assumed five loans in conjunction with the acquisitions.
The acquisitions include:
The $94.75 million Renew Parc Shores, a 520-unit apartment community at 3925 Satellite Blvd. in Duluth, Ga. The community will be rebranded Summit Station at Duluth. This investment marks the company’s second in Gwinnett County, which has led the Atlanta MSA in employment growth over the last decade. FCP is partnering with Zevulon Capital, an experienced operator based in Atlanta.
A $107.3 million, three-property portfolio, Laurel Pointe (228 Morrow Rd. in Forest Park) with 593 units, Bradford Ridge (415 Sylvia Dr. in Forest Park) with 262 unit
