The Clairmont, at 3078 Clairmont Road, is currently 94% occupied and totals 230,000 square feet on 11 acres. Amenities include two swimming pools, detached garage spaces, an around-the-clock fitness center and an executive business center with wireless Internet service.

"Current market conditions enabled us to secure this property with favorable terms," says Michael Weiser, executive vice president of acquisitions with GFI Capital. "The Clairmont is well constructed with little capital needs and consists of many long-term residents, giving the property a level of stability."

GFI Capital intends to retain the asset for the long term and will invest additional money into several exterior updates during its first month of ownership, according to Bob Mascaro, vice president of acquisitions for the firm's Southeast region in Atlanta. The company is seeking additional acquisition opportunities with prospects for good returns, he says.

GFI Capital owns several apartment complexes in the Atlanta metropolitan area, including Las Colinas and Crescent Square, both in Marietta; Valley Oaks in Atlanta; Kensington Station in Decatur; Hidden Woods in College Park; and The Colony at Stone Mountain.