FCP Spends $38M for Third Multifamily in GA’s Gwinnett County
Chevy Chase, MD-based FCP has acquired Villas at Duluth apartments in the Atlanta, GA submarket of Duluth for $37.7 million. Berkadia represented the seller in the transaction.
FCP, which has a multifamily-focused regional office in Atlanta, has invested in 32 properties since its entry into the Atlanta market in 2015. Its multifamily portfolio in the market now stands at 6,566 units. Villas at Duluth marks the firm’s third investment in GA’s Gwinnett County and third partnership project with Zevulon Capital, an Atlanta-based operator.
The 164-unit community on Boggs Road is near the intersection of I-85 and University Parkway for easy access to major employment centers throughout Gwinnett County, Alpharetta and Peachtree Corners.
Villas at Duluth is set within a wooded enclave with amenities including a pool, clubhouse, fitness center, playground and dog park.
FCP is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.