PRP Sells Class A Property for $44M in Atlanta
- Sep 13, 2017
A joint venture between a Perseus Realty Partners private equity fund and Bahrain-based GFH Financial Group recently sold an Atlanta-area residential community. The entity received $43.5 million for the property from an undisclosed buyer. Ansley at Princeton Lakes is a 306-unit luxury multifamily community located at 3871 Redwine Rd., Atlanta. It was originally built by a PRP partnership in 2009, while in 2014 it was recapitalized for $35.2 million.
“Ansley’s location in Atlanta, as well as its proximity to the Atlanta-Hartsfield International Airport made this an exceptional property for our partnership. Partnering with GFH underscores the confidence foreign investors see in the U.S. real estate markets, specifically the Atlanta market,” Paul Dougherty, president of Perseus Realty Partners, said in a prepared statement.
Luxury amenities and connected area
Ansley at Princeton Lakes is comprised of 19 three-story buildings, totaling 306 units—available in one-, two- or three-bedroom options. Amenities include granite countertops, stainless steel appliances, nine-foot ceilings, oversized windows and a private terrace/patio for each unit. The common area also features some amenities, such as a resort-style swimming pool, grill stations, fitness center, hammock garden, sports lounge, as well as a 6,500-square-foot clubhouse. Hartsfield-Jackson International Airport is ten minutes away from the property, while the Camp Creek Marketplace mall offers numerous dining and shopping options. The AMC Camp Creek 14 movie theater is within walking distance of the apartment community. Interstate 285 offers transit options to the outer areas of the city, while downtown Atlanta is a 20-minute car ride away via I-85.
Image courtesy of PRP Real Estate Investment Management