News

January 19, 2017
Element 41 Apartments Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Element 41 Apartments (the “Property”) in Marietta, Cobb County, GA. The Property closed on January 19, 2017 and is comprised of a 494-unit, class B, garden-style, multi-family apartment community consisting of 21, three-story buildings. The investment plan is to redevelop, renovate, and reposition the Property to take advantage of its location within the revitalizing Franklin Road corridor.

Located approximately 15 miles northwest of the Atlanta Central Business District, Marietta’s City Council passed a $68.0 million bond referendum aimed at redeveloping the Franklin Road corridor into a mixed-use thoroughfare with plans for the development of new office, retail, and green spaces. Additionally, the Property is located directly adjacent to another Atlantic Creek property, The Gallery Apartments, and approximately three miles north of the new Atlanta Braves baseball stadium currently under development and scheduled to open in Spring 2017.

Atlantic Creek, with offices in New York, NY, Palm Beach, FL, and Los Angeles, CA, targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate primarily located on the East and West Coasts of the U.S., Texas and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.