Aragon Buys Multi-State $100M Apartment Portfolio

BEVERLY HILLS, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Aragon Holdings has expanded into two new markets with the acquisition of three properties in Atlanta and Denver, deploying approximately half of the $52 million it raised in its recently-closed private equity fund, Aragon Multi-Family Cash Flow Fund II. The balance of the $100 million acquisition was provided by Freddie Mac.

In the Atlanta market, the company purchased Holland Park, a 496-unit property in Lawrenceville, and Azalea Springs, a 232-unit property in Marietta. The Denver purchase was Hampden Heights, a 376-unit property located just north of the Denver Tech Center. All three properties are located in areas with strong employment, according to a prepared statement.