March 9, 2020
Privately held national real estate investment company FCP has acquired three multifamily communities totaling 652 units in metro Atlanta for $71.1 million.
The properties include Place at Midway, a 200-unit community in Douglasville; Stewart’s Mill, a 188-unit community in Douglasville, and Forest Glen, a 264-unit community in Austell. The acquisition marks FCP’s 14th investment in the Atlanta Metro Area to date, and brings the total number of apartment units in its Atlanta portfolio to 2,810. FCP assumed the existing Fannie Mae loans at each property.
Nathan Swenson of Cushman & Wakefield Southeast Multifamily Advisory Group represented the undisclosed seller in the transaction. Pinnacle has been tapped to manage the properties for FCP. The firm currently manages 8,566 units for FCP.
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