FCP® announces the acquisition of a 264-unit garden apartment community in the rapidly growing suburb of Duluth in Gwinnett County near Atlanta, GA. Details of the property and the purchase price were not disclosed.
“This investment expands FCP’s portfolio of naturally occurring affordable housing in the fastest growing county in Georgia,” said Summer Haltli, Partner and Co-Founder FCP Housing Preservation strategy. “This well-maintained, 1999-vintage community supports long-term housing stability for residents while providing a high standard of living and excellent access to area employers and amenities.” FCP has retained Cushman & Wakefield to manage the property. FCP will integrate resident services focused on education, economic mobility, and health to improve the resident experience and increase resident retention.
The location has convenient access to key employers, including Amazon, Cisco Systems, and Northside Hospital Gwinnett. The community is proximate to I-85 and its dynamic industrial corridor and is within walking distance of the Publix-anchored Pleasant Hill shopping center.
The apartments offer one-, two-, and three-bedroom sunlit homes in three-story buildings. Amenities include a swimming pool, sports court, playground, clubhouse, fitness center, and picnic area.
About FCP
FCP® is a privately held real estate investment company that has invested in or financed more than $13.1 billion in assets since its founding in 1999. As an owner-operator of affordable and workforce housing for 25 years, FCP implements advanced technology and detailed operational oversight to enhance property performance and improve the resident experience. FCP invests directly and with joint venture operating partners in commercial and residential assets. The firm makes equity investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit https://fcpdc.com.
