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Atlanta & Southeast  + Apartments  |  December 6, 2020
David Cohen
By: David Cohen

FCP, Croatan Investments Divest from 152-Unit Marietta Apartment Community

FCP and partner Croatan Investments have divested from Magnolia at Whitlock Apartments, a 152-unit apartment community in Atlanta’s Marietta submarket. The sales price was not disclosed.

The community consists of primarily two and three-bedroom units with in-unit washers and dryers. Since it’s acquisition in 2016, the property has received approximately $2.2 million in improvements to common areas and amenities as well as in-unit renovations. The property is nearby employers Lockheed Martin and Dobbins Air Force Base as well as the Battery Atlanta mixed-use development and historic downtown Marietta.

Andrew Mays, Matt White, Judy MacManus and Paul Vetter of Berkadia brokered the sale on behalf of FCP and Croatan Investments. The buyer was not disclosed.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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