Emma Capital Expands Atlanta Footprint
The company paid a total of $17.5 million for two multifamily communities in Marietta.
Atlanta—Emma Capital Investments has closed the $17.5 million acquisition of the Somerpoint Apartments and Brix on Beech multifamily communities in Marietta, Ga., a suburb of Atlanta. These are the firm’s 17th and 18th purchases in the U.S., bringing its total portfolio to approximately 4,000 units.
Located at 1788 Austell Road, the 144-unit, garden-style Somerpoint Apartments community was built on 10.8 acres and consists of two spacious one- and two-bedroom floorplans averaging 960 square feet.
The 100-unit Brix on Beech (formerly Georgian Arms) is located at 16 Beech Road and was built on a 7.9-acre site with frontage on Austell Road. The property features large, well-lit units averaging 900 square feet in two floor plans.
Both properties are located in an area that is undergoing tremendous investment in infrastructure, including the new, $622 million Atlanta Braves stadium and the adjacent $400 million entertainment district.
“We are pleased to continue to expand or portfolio in the Greater Atlanta Area. The addition of these properties in Marietta further strengthens our footprint in this rapidly growing market,” Emma Capital Founding Partner & Co-owner Haya Zilberboim said in a prepared statement.
“These acquisitions are our 8th and 9thin the Atlanta area in the past year and a half,” added Partner & Co-owner Oz Cohen. “We continue to execute on our growth strategy with quality assets in strong locations.”
Images courtesy of Yardi Matrix