CP Capital Buys 200-Unit Georgia Community
The asset previously traded in 2020 for $37 million.
Image courtesy of Yardi Matrix
CP Capital has purchased Ascent Athens, a 200-unit garden-style community in Athens, Ga. Hilltop Residential was the previous owner of the asset, according to Yardi Matrix information.
Developed by Westplan Investors, Ascent Athens came online in 2020 on a 24-acre site. In December of that same year, Hilltop Residential paid $36.6 million for the asset. In 2022, the property was refinanced with a 10-year, $33.5 million CMBS loan issued by JLL, the same data provider shows.
The community consists of 24 buildings rising two, three and four stories high. The residences have studio, one-, two- and three-bedroom layouts ranging from 631 to 1,546 square feet. Ascent Athens was 95 percent occupied at the time of the sale. Common-area amenities include a swimming pool, fitness, clubhouse and business center, as well as grade-level parking with 471 spots.
Located at 100 Still Creek Lane, Ascent Athens is less than 3 miles southeast of University of Georgia’s main campus and the Sanford Stadium. Major thoroughfares in the area include U.S. routes 78 and 441, which connect Athens to downtown Atlanta, 73 miles west.
Atlanta’s multifamily investment landscape
Over the course of 2025, Atlanta’s multifamily market saw 25,018 units changing hands. The metro’s activity across the sector positioned it among the top 10 markets with the largest multifamily transaction volume, clocking in at almost $4 billion, trailing behind Seattle ($4.4B), Dallas ($4.3B) and Phoenix ($4.3B).
In the first quarter of 2026, multifamily sales across Atlanta amounted to $672 million, out of which $403 million were in suburban submarkets, according to a Yardi Matrix report. The metro’s average price per unit rose 5.3 percent year-over-year through May, to $192,823.
