An Atlanta-based residential real estate company has acquired an apartment complex in Suwanee.
RangeWater Real Estate paid $62.8 million for Provenza at Old Peachtree in an all-cash transaction, Atlanta Business Chronicle reports. The firm purchased the apartment complex from Momentum Real Estate Partners, a real estate company based in Miami.
RangeWater Real Estate is the company behind several other apartment communities in metro Atlanta, including The Vivian on the BeltLine and the upcoming 304-unit Camino in Doraville, expected in spring 2025.
Provenza at Old Peachtree is located at 1460 Distribution Drive, northeast of Atlanta. The 258-unit apartment complex offers one-, two- and three-bedroom floor plans, ranging from 649 to 1,314 square feet. Amenities include a fitness center, clubhouse, business center, a pool with a poolside grilling station, and more.
Minor renovations and enhancements are planned for the units, according to Atlanta Business Chronicle. See the full report here.
