McCann Realty Partners announced the acquisition of two garden style properties in suburban Atlanta totaling 444 apartment homes to its portfolio.
Five Oaks, a three and four-story 280-home community built in 2005, is a suburban-garden community that features 1, 2, and 3-bedroom floorplans and high-quality amenities, including a resort-style swimming pool, outdoor grilling station, fitness center, and community club room, all situated in a low-density setting on over 11 acres. Five Oaks is located at 1200 Montreal Road in suburban Dekalb County in close proximity to Lawrenceville Highway and Interstate-285 and benefits from convenient access to major transportation routes, popular retail centers, and great connectivity to major employment hubs throughout the Atlanta MSA.
Hawthorne Gates, a three and four-story 164-home community built in 1995, is a suburban-garden community that offers large floorplans with 9′ ceilings and high-quality amenities, including detached garages, swimming pool, outdoor grilling station, fitness center, tennis courts, dog park, and community clubroom, all situated in a low-density setting on just over 9 acres. Hawthorne Gates is located at 7200 Peachtree Dunwoody Road adjacent to US-19 in a mixed commercial, retail, and residential area of Fulton County and benefits from great connectivity to major employment hubs throughout the Atlanta MSA.
McCann will invest capital to upgrade the exterior finishes, interiors, and amenities at each asset. Both properties will be managed by McCann’s Atlanta-based affiliate property management company, Pegasus Residential, based in Alpharetta, Georgia.
“We are excited to bring our team’s touch to these properties,” said Thomas Upson, head of acquisitions for McCann in a statement. “We will spend significant capital enhancing the properties that will benefit the residents.”
“We are excited to acquire additional assets in the Atlanta market” said Matt Akin, President of McCann. “These two assets are very well located, and in close-in submarkets that show strong fundamentals for growth. Each investment presents a unique opportunity for McCann and Pegasus to improve operations that will enhance the living experience of our residents.”
