News

May 15, 2017
Solis Decatur Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture development of Solis Decatur (the “Project” or the “Property”) in unincorporated DeKalb County, GA in the Atlanta MSA. The site is located less than one mile outside of the city of Decatur, GA. The Project closed on May 15, 2017 and is a to be built 290-unit, class A, multi-family apartment community consisting of one four-story building (including non-owned ground floor retail space) wrapped around a two-level parking deck. Atlantic Creek has partnered with a well-known proven developer/operator that has extensive experience in major markets across the southeastern United States. The Project is the residential component of a larger mixed-use development project which will contain approximately 86,000 sf of retail, including a Whole Foods Market. The investment plan is to take advantage of the Property’s excellent location, and the market’s strong occupancy and leasing activity driven by Atlanta’s growth.

The Property is located approximately six miles southeast of Buckhead and six miles northeast of Midtown/Downtown Atlanta, two of the largest office and retail centers in the Atlanta MSA. The Project’s site is in close proximity to major employers including top universities, healthcare facilities and retailers that serve as vital economic drivers to both Metro Atlanta and the local Decatur community. Specifically, the Project is located within two miles of Emory’s prestigious University Hospital, the national headquarters for the Center for Disease Control, Atlanta VA Medical Center and DeKalb Medical at North Decatur (directly across the street) which combine for approximately 20,000 healthcare related jobs at the time of acquisition. Emory University, a top ranked private institution, is also located less than two miles west of the Property and together with Emory University Hospital is the second largest employer in Metro Atlanta. Furthermore, the Property is located approximately 1.4 miles from downtown Decatur, a very walkable downtown which contains nearly two million sf of office space, a fully array of restaurants, bars, boutiques and entertainment venues, and a MARTA station connecting Decatur to Downtown Atlanta.

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.