Atlantic | Pacific Companies Expands Portfolio in Atlanta
- May 06, 2015
Atlanta—Miami-based Atlantic | Pacific Companies announced its acquisition of two multifamily communities in Atlanta. The newly closed deals bring A|P’s regional reach to 12 multifamily communities within just three years of opening its Atlanta office.
A|P now possesses nearly 3,000 units in the Atlanta area. It currently holds 10 other Georgia communities, including four in Atlanta, one in Kennesaw, two in McDonough, one in Norcross, one in Dallas and one in Duluth.
One of the new properties is Legacy Century Center, situated at 100 Windmont Drive NE in Brookhaven, Ga., just north of Downtown Atlanta. The community features 178 units, including spacious one- and two-bedroom floor plans. The property amenities highlight a fitness center, sparkling pool and sun deck and an Internet café.
Carriage Place is located at 645 Dekalb Industrial Way in Decatur, Ga., an in-town suburb east of Downtown Atlanta. The 288-unit property is positioned around wide-open landscaping with wooded views. Residents have access to an outdoor fitness trail, cabanas with grills, outdoor wood-burning fireplaces and picnic areas. The community also includes a car care center, fitness center, tennis court and pool. Floor plans feature one- and two-bedroom apartments.
A|P has plans to make capital improvements within the portfolio such as interior upgrades and common area enhancements. Atlantic | Pacific Management (A|P Management), the property leasing and management platform under A|P, will handle property management responsibilities for all properties.
“We’re extremely excited to take on these in-town Atlanta properties and expand our reach in Georgia,” Mark Briggs, senior managing director at A|P Management, said. “A|P continues its strategic growth with a dozen multifamily communities now acquired in Atlanta within the past three years.”