Transactions - OCTOBER 9, 2019

FCP makes sixth investment in Atlanta in 2019

by Released

FCP has paid $19 million for Portofino Apartments, a 234-unit garden-style apartment community at 1250 Brockett Road in the Atlanta suburb of Clarkston.

The acquisition marks FCP’s sixth investment in the Atlanta area this year, bringing the firm’s Atlanta portfolio to approximately 2,164 units.

“Portofino Apartments are located in an improving submarket with excellent access to major transportation corridors,” said Alex Cathcart, FCP vice president. “Portofino adds to FCP’s growing portfolio of workforce housing communities, providing residents with one of the most affordable options in the Atlanta area.”

Portofino Apartments is located less than a minute from the intersection of Route 78 and the I-285 Perimeter, providing easy access to major employment centers, including Perimeter Center, North Druid Hills/Emory University, Decatur, Chamblee, Buckhead, Midtown and Downtown Atlanta. Residents of the spacious one-, two-, and three-bedroom apartments enjoy amenities including two pools, a playground, a basketball court and a dog park.

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