Source: Emma Capital Investments / #Apartments #Multifamily
ATLANTA, GA - Emma Capital Investments announced the completion of the acquisition of Princeton Heights Apartments, formerly known as Highland Valley Apartment Homes, a 300–unit garden style multi-family apartment community located at 4250 Jimmy Carter Blvd., Norcross, (submarket of Atlanta), Georgia at a purchase price of $18.75 Million. This is Emma Capital’s 9th purchase in the United States and brings its total acquisitions to date to over $110,000,000.
Princeton Heights was built in 1985 and is well-located in the North Atlanta/Norcross area, situated on approximately 23 acres on Jimmy Carter Blvd, north of Lawrenceville Hwy. The property is a quick 13 minutes northeast of Downtown Atlanta and is approximately 2 miles outside the I-285 Perimeter Highway. Given its proximity to both the I-285 and the I-85, residents enjoy convenient access to the entire Atlanta area, as well as nearby restaurants, shopping and entertainment. There are a number of diversified employers nearby with an emphasis on technology, healthcare, education, retail, sports and tourism industries.
The Property offers four spacious one and two bedroom floor plans, with an average of 911 sq.ft., and features extensive amenities, such as a swimming pool, playground and clubhouse, consistent with Emma Capital’s established portfolio. A significant opportunity exists for Emma Capital to increase the value of the property through a unit interior upgrade program, as all of the units feature original finishes. These factors provide flexibility to meet the needs and tastes of a variety of potential renters.
“We are pleased to add Princeton Heights to our growing portfolio in the Greater Atlanta Area. The addition of this property further strengthens our footprint in this rapidly growing market,” stated founding partner and Co-Owner Haya Zilberboim. “This investment is our 3rd in the Atlanta area in the last 7 months,” added Partner and Co-Owner Oz Cohen. “We continue to execute on our growth strategy with quality assets and leverage our experience and relationships to access phenomenal interest rates so that we continue to produce the best results for our investors.”