Source: Emma Capital Investments / #Apartments #Multifamily
ATLANTA, GA - Emma Capital Investments announced the completion of the purchase by 3500 Peachtree Corners L.P. of Valencia Park Apartments, a 508–unit garden style multifamily apartment community located in Peachtree Corners, submarket of Atlanta, Georgia at a purchase price of $28.2 Million.
The purchase is Emma Capital’s 2nd acquisition in North Atlanta within the last 3 months and its 7th purchase in the U.S. Following this acquisition, Emma Capital owns approximately 2,000 units in the United States.
The property which is situated on approximately 51 acres, enjoys a reputation as a well maintained community with excellent visibility in which residents enjoy a relaxing comfortable life-style with an outstanding amenity package that includes a swimming pool with sun deck, a clubhouse and a state of the art fitness facility – which are consistent with Emma Capital’s established portfolio. Emma Capital intends to refresh and modernize the property clubhouse and other amenities and improve landscaping and the curb appeal of the Property. Valencia Park provides outstanding access to the demand generators in the area. A significant opportunity exists for Emma Capital to increase the value of the property through a unit interior value-add program.
“I am very excited about this new acquisition” commented Haya Zilberboim, founding partner and co-owner of Emma Capital, “The property is located a short drive from Technology Park Atlanta, and our strategy is to attract the employees at the Park as our new potential tenants for the upgraded units. Further, the area is undergoing an economic boost including the current redevelopment of a 125-acre site into a $1 billion new movie studio, and the planned major multi-use redevelopment of the 165-acre GM plant in Doraville, as well as numerous corporate expansions and relocations, resulting in the addition of thousands of new jobs in the area."
“Emma Capital is extremely pleased to continue executing on its acquisition strategy,” added Oz Cohen, partner and co-owner of Emma Capital. “The addition of this property further strengthens our growing portfolio in the region, and demonstrates Emma Capital’s access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions. Emma Capital continues to seek responsible value-add opportunities in growth markets in the United States.”