ATLANTA, GA - Emma Capital Investment announced the acquisition of Centre at Peachtree Corners, a 272-Unit Community located at 3325 Holcomb Bridge Road, Peachtree Corners 30092 for $45,250,000. This is Emma Capital's 41st purchase in the United States, and the first acquisition for the Emma Capital Investments Value Add Fund I (the "Fund") bringing its total acquired apartments to date to over 10,000 units.
Peachtree Corners is an affluent city in Gwinnett County conveniently located to I-85, I-285, and GA-400. The 17 square mile city was incorporated in 2005. The city's pro-business environment has attracted over 2,300 businesses. Peachtree Corners is the economic leader of Gwinnett County, Atlanta's fastest growing county.
The property sits on 20.13 acres at the intersections of Holcomb Bridge Road, Peachtree Industrial Boulevard, and Peachtree Parkway (also known as GA-141). The property has benefited from a major rehabilitation of $10.7M between 2012-2017, with new HVAC, roofs, windows, paint, clubhouse and Hardie-Plank sidings as well as renovations of all of the interiors with plank flooring, black appliances, faux granite countertops, new cabinets, and track lighting.
"We are extremely excited about this first acquisition in our new Value Add Fund," stated founding Partner and Co-Owner Haya Zilberboim. "We have had great success with our other properties in Atlanta and our strength and experience in the market provides us with a great opportunity to efficiently leverage our resources to immediately focus on rent growth initiatives and capital improvement projects such as income-boosting unit interior upgrades."
"Centre at Peachtree Corners represents another strong investment opportunity for Emma Capital in the Atlanta market," added Partner and Co-Owner Oz Cohen. "The city of Peachtree Corners is vibrant and growing, with leadership focused on well-conceived, strategic development sure to generate business interest and inspire future expansion. We are extremely happy with the performances of our current holdings in Atlanta, Phoenix Orlando, Nashville, Indianapolis and the Carolinas and continue to focus on other new Southern markets such as Dallas, Austin and Tampa."
Source: Emma Capital