Blaze Partners, Bailard Snap Up Atlanta Apartments
- Dec 15, 2017
Blaze Partners and Bailard Inc. have acquired 1760 Apartment Homes, a 239-unit mid-rise community in Lawrenceville, Ga., in a newly formed partnership. The asset was acquired in an all-cash transaction.
The property counts as new development, having been completed earlier this year by LIV Development. 1760 Apartments Homes offers residents a variety of one-, two- and three-bedroom units.
Common amenities include a 5,000-square-foot clubhouse overlooking a resort-style pool and housing a cyber café with coffee bar, resident lounges and fitness studio complete with a Cross Fit Training area. Units include granite countertops, stainless steel appliances and walk-in closets.
Seeking Southeastern Value-Adds
The property is at the intersection of Sugarloaf Parkway and University Highway in a rapidly growing suburban pocket of Gwinnett County in Atlanta. The deal represents the latest the companies’ focus on multifamily in major markets in the Southeast, through the acquisition of value-add and core-plus multifamily opportunities.
“We believe the northern suburbs of Atlanta will continue to experience significant growth, with apartment communities continuing to provide a compelling housing option,” said Chris Riley, co-founder & managing partner of Blaze.
Image courtesy of Blaze Partners