Source: Blaze Partners / #Apartments #Multifamily
ATLANTA, GA - Blaze Partners announced the acquisition of two, recently-developed apartment communities in Atlanta, GA. Overlook at Huntcrest is a 299-unit garden apartment community located in Suwanee, GA, a highly desirable suburban pocket within Gwinnett County. Stadium Walk, the second asset acquired in the transaction, is a four-story, 309-unit community within walking distance of the Battery Atlanta and SunTrust Park, home to the Atlanta Braves and serving as the lifestyle and entertainment destination within Cobb County.
The acquisitions closed simultaneously in one transaction on September 27, 2018.
"We are excited to expand our footprint in the Atlanta market, particularly in such dynamic suburban locations such as these," said Chris Riley, Managing Partner and Co-Founder of Blaze. "The Cumberland-Galleria submarket has undergone a transformation in recent years with the development of the Battery, while Gwinnett County continues to lead the growth charge for Atlanta. We believe each of these assets stand to benefit from the growing demand base coupled with a lack of high-quality rental options for households moving into the area."
The transaction represents a continuation of the Company's focus on expanding its Southeastern multifamily presence and marks its third acquisition in Atlanta in the last twelve months.
"Since starting the Company two years ago, we have been an active buyer seeking out unique investment opportunities in target, high-growth markets throughout the Southeast," added Eddy O'Brien, Managing Partner and Co-Founder of Blaze. "These opportunities certainly fit that profile, and we look forward to continuing to leverage deep industry relationships and strategic capital partnerships to further expand our footprint."