ATLANTA, GA - Fogelman Properties (Fogelman), one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of a 250-unit apartment community located in Villa Rica, Georgia, a western suburb of Atlanta. Formerly known as Hawthorne at Mirror Lake, the property will be renamed as part of a rebranding initiative aligned with extensive renovations and amenity enhancements.
Built in two phases in 2003 and 2018, the newly acquired community features one, two and three-bedroom apartment homes within the established Mirror Lake planned development. The property is currently 96% occupied and will be managed by Fogelman. Planned upgrades include comprehensive interior unit renovations, updated signage, enhancements to the pool and outdoor pavilion area, repurposing of the tennis court and improvements to the community playground and dog park.
“Villa Rica is a vibrant and fast-growing community just 30 minutes west of downtown Atlanta,” says Mike Aiken, SVP of Investments at Fogelman. “Its location within the established Mirror Lake master-planned development, along with strong population growth and ongoing retail and infrastructure investment, makes this property a strategic addition to our portfolio.”
Headquartered in Memphis since 1963, Fogelman Properties now manages 96 multifamily communities across the Southeast and Sun Belt regions. The company has grown from a local family-owned business to a leader in the multifamily industry, overseeing more than $5B in asset value. For more information www.fogelman.com