ATLANTA, GA – Miami, Florida-based Atlantic | Pacific Companies (A|P) is pleased to announce the acquisition of City View Apartments in Atlanta, Ga. The property marks A|P’s second acquisition within the company’s third private equity fund, Blue Atlantic Partners Fund III (BAP III).
City View Apartments holds true to its name as it boasts an expansive view of the Atlanta skyline. The community has a walkability score of 85, and is conveniently located in the trendy Old Fourth Ward neighborhood, near popular hubs such as Inman Park, the Atlanta Beltline, and Little Five Points. Additionally, it offers easy access to public transportation, major interstates (including I-75, I-85, and I-20) and some of Atlanta’s top job centers like Downtown, Midtown, and the Eastside Beltline Trail.
The 240-unit, four-story residential property offers a mix of studio, one, and two-bedroom floorplans ranging from 694 square feet to 1,304 square feet. The community has amenities such as a pet spa, fitness center, media room, virtual concierge, and a CVS Pharmacy on the first floor. Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will handle all property management responsibilities. A|P plans a multi-million dollar renovation program at the property including quartz countertops, amenity enhancements, a rooftop deck with skyline views, among many others.
“We are excited to add City View to our growing Atlanta portfolio,” remarked Brett Duke, Senior Managing Director at Atlantic I Pacific Real Estate Group. “This acquisition is a prime example of our strategy to buy properties in superior locations at a discount to replacement cost,” he concluded.
With the purchase of City View, A|P now has 21 properties in metro-Atlanta, totaling just under 5,500 units.