Morgan Properties Buys Suburban Atlanta Community
This is the first time the asset changes hands.
Morgan Properties has purchased The Corwyn South Point Apartments, a 260-unit community in McDonough, Ga., from ECI Group.
This is the first time the asset has changed hands since its 2022 completion. Newmark Vice Chairman David Gutting brokered the deal on behalf of the seller.
The acquisition follows a leadership transition at Morgan Properties. Jonathan and Jason Morgan are taking over as Co-CEOs, while their father, Mitchell Morgan—the company’s founder—will remain chairman.
ECI Group developed, built, leased and managed Corwyn South Point—which will soon be rebranded as Arden at South Point following the change of ownership.
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Located at 1000 Columns Drive near Interstate 75, the property is 29 miles northwest of downtown Atlanta. Arden at South Point is also adjacent to two shopping centers and multiple dining options.
The community features 10 three-story buildings across a 28-acre site, enclosing residences ranging from 760 to 1,438 square feet. The apartments are divided into 130 one-bedroom, 118 two-bedroom and 12 three-bedroom units. Shared amenities include a fitness center, swimming pool with sun deck, courtyard, a 2,000-square-foot clubhouse with kitchen and lounge, as well as a dog park and pet wash station.
Atlanta multifamily stabilizes
Atlanta saw $3 billion in multifamily investment sales through November 2025, with the average per-unit price clocking in at $169,244, down 8.6 percent year-over-year and below the $206,794 national figure, according to a recent Yardi Matrix metro report.
However, in the first half of 2025, Atlanta ranked third nationwide in terms of multifamily transaction activity, trailing behind Phoenix and Seattle. The Southeastern metro registered $1.7 billion in sales in the first half of last year, marking an 12 percent increase compared to the same period in 2024.
