A joint venture of PCCP and CARROLL has acquired Berkshires at Lenox Park, a 375-unit multifamily community that will be rebranded as ARIUM Lenox Park. The property is located at 2124 Gables Drive NE within the secluded Lenox Park neighborhood in Brookhaven, Ga., an affluent northeastern submarket of Atlanta.
“PCCP is excited to once again partner with CARROLL for the acquisition and renovation of a well-located, quality asset in their home market,” said Kevin Chin, managing director with PCCP. “We see this as a compelling opportunity to acquire an unrenovated asset in a high-barrier-to-entry location with low vacancy that is convenient to major employment centers and amenities.”
The venture intends on undertaking a comprehensive renovation plan to upgrade the unit interiors, amenities, common areas and exteriors.
Built in 1990, the 12.3-acre garden-style property consists of four three-story buildings. The unit mix contains 222 one-bedroom units, 102
