Canadian Investor Grows in Duluth
- Sep 28, 2015
Atlanta—A Toronto-based multifamily investor announced its third purchase in Metro Atlanta. Emma Capital Investments closed the acquisition of a 240–unit garden style multifamily apartment community in Duluth. The transaction was worth $21.5 million.
Berkeley Landing Apartments is situated on 22.2 acres at 3700 Peachtree Industrial Blvd. in Duluth, North Gwinnett County. The property features 240 units in 24 two- and three-story buildings as well as a leasing office. The unit mix offers one- and two-bedroom layouts on three different floor plans, averaging 1,128 square feet. Over two thirds of the property is made up of 1,200-square-foot two-bedroom, two-bathroom units. The new owner plans to implement a number of capital improvements such as a unit upgrade program in order to change the original interior finishes.
This is Emma Capital’s 11th addition to its U.S. portfolio and brings the Canadian company’s total acquisitions to date to over $150 million and more than 2,500 apartment units in the Phoenix and Atlanta markets.
Image source: berkeleylanding.com