FCP announces the acquisition of Villas at Duluth apartments in Gwinnett County for $37.7 million. The 164-unit vintage apartment community at 1470 Boggs Road, NW is well-located near the intersection of I-85 and University Parkway, providing easy access to major employment centers throughout the County, Alpharetta, and Peachtree Corners. FCP has invested in 32 properties since its entry into the Atlanta market in 2015 and its multifamily portfolio in the market now stands at 6,566 units. Villas at Duluth marks the firm’s third investment in Gwinnett County.
“Villas at Duluth expands FCP’s presence in Gwinnett County which continues to be a leader of population and employment growth in the region,” said FCP’s Michael Errichetti in a statement. “Made up primarily of 3- and 4-bedroom units, Villas at Duluth caters well to the family demographic of the neighborhood.”
Villas at Duluth is set within a wooded enclave with amenities including a pool, clubhouse, fitness center, playground, and dog park. The community is close to popular retail centers including Sugarloaf Mills.
FCP will be partnering with Zevulon Capital, an experienced local operator based in Atlanta, marking their third partnership together. FCP extends its appreciation to Berkadia for their representation of the seller.