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National real estate investor and operator Waterton recently announced it has acquired a four-property multifamily portfolio comprising 1,824 units with properties located in Alpharetta, Roswell, Norcross, and Atlanta. The acquisition more than triples Waterton’s current presence in the metro Atlanta market bringing its total number of units under management in the area to approximately 2,400. Built between 1989 and 2001, all four assets are located along Atlanta’s northern arc, straddling either GA-400 or I-85
“Atlanta is a solid market for growth potential with strong demand for quality multifamily housing,” David Schwartz, CEO, chairman and co-founder of Waterton, said in a prepared statement. “This portfolio represents an excellent opportunity to complement our growing national footprint as we celebrate 25 years of providing great places to live across the United States.”
The four properties are Deerfield Village (13085 Morris Rd in Alpharetta), Roswell Village (100 Hemingway Ln in Roswell), Gwinnett Pointe (1300 Beaver Ruin Rd in Norcross; pictured above), and Briarcliff Apartments (7000 Briarcliff Gables Cir NE in Atlanta). Each property will “benefit from Waterton’s signature value-add program” with unit upgrades, amenity space, common area, and outdoor improvements across the portfolio. Waterton did not disclose the timelines for the renovations or detail the planned work.