JV Acquires 284-Unit Atlanta MF Community
A joint venture between PCCP LLC, F&B Capital and CF Real Estate Services have acquired District at Windy Hill, a 284-unit apartment property located at 2245 Interstate North Parkway West in Atlanta. The sales price was not disclosed.
Built in 2019 by Kaplan Development, the asset is located in Atlanta’s Cumberland/Galleria submarket. The property consists of two five-story, elevator-served buildings with a 514-space parking deck between the buildings, providing residents with direct access to their floors. The unit mix is comprised of 156 one-bedrooms and 128 two-bedrooms with an average size of 875 square feet. The community is within walking distance of the 2 million-square-foot Battery mixed-use development.
“PCCP is excited to be partnering with the newly merged F&B Capital and CF Real Estate Services, which brings a local hands-on management team to an asset with upside through lease-up of vacancy that was largely induced by the pandemic,” said Ron Bonneau, Managing Director at PCCP. “District at Windy Hill is ideally located in a prime Atlanta location that we believe will lead to outsized renter demand given its location near strong employment nodes and a true live-work-play environment.”