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Origin Investments and Kaplan Residential have purchased a 40-acre parcel in Atlanta, GA, for $31.5 million with plans for a mixed-use development.

Origin, Kaplan Tap $300M OZ Fund to Buy $32M Atlanta Site for Mixed-Use Development

Origin Investments and Kaplan Residential have purchased a 40-acre parcel in Atlanta, GA, for $31.5 million by tapping Origin Investments’ $300 million Qualified Opportunity Zone Fund II.

The deal was facilitated by Cushman & Wakefield’s Pierce Owings and Matt Hawkins, who represented the seller.

The two firms, with Kaplan Residential operating as the developer, are planning to transform the adaptive re-use opportunity zone site into a reimagined live, work and play neighborhood village.

Located within Chosewood Park at 500 Sawtell Avenue, the master-planned project will be home to more than 2,000 multifamily residences, activated park space and up to 150,000 square feet of diversified commercial space. The first phase will feature approximately 700 build-to-rent townhomes and multifamily units. 

In late 2021, Kaplan and Origin announced their first collaboration in the Southeast, a $76-million, 322-unit multifamily in Charlotte with an anticipated delivery in late 2023 to early 2024.

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About Lisa McDuffie

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.

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