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Fairfield Pays $63.4M for Cobb County Apartments
Fairfield Residential acquired Chroma Park Apartments in Cobb County for a combined $63.4 million.
The company paid approximately $173,700 per unit for the community, which features 365 apartments with one-, two- and three-bedroom floor plans.
The Atlanta Business Chronicle reports Fairfield paid just under $36.5 million for the 17.5-acre parcel at 2105 Mesa Valley Way in Austell. The company also paid about $27 million for the adjacent 26-acre tract at 2100 Mesa Valley Way.
Both tracts were previously owned by Federal Capital Partners.
Federal Capital Partners paid $29.5 million for the 17.5-acre tract in January 2019. The company then purchased the 26-acre tract three months later for $17.7 million.
Fairfield owns more than 44,000 multifamily units in the U.S. across its acquisitions, affordable housing developments and new construction properties.
- ◦Sale/Acquisition
