Black Creek Group Purchases $117M Multifamily Property
The firm is expanding its presence in the multifamily sector with the addition of the 384-unit Atlanta community.
ATLANTA, GA – Black Creek Group has acquired a 384-unit multifamily asset in a $117 million transaction.
Located within Atlanta, GA’s Central Perimeter submarket, the apartment community, Hanover Perimeter, features a three-story clubhouse, fitness center, swimming pool, media room and pet-washing station. The complex’s units offer private terraces, gourmet chef kitchens and smart thermostats.
The luxury property, built in 2018, was 96% leased at the time of closing.
The transaction serves as the firm’s third multifamily property acquisition this year, following the purchases of a 333-unit community in Rockville, MD and a 268-unit in Winter Park, FL.
The recent acquisition aligns with Black Creek Group’s strategy to expand its presence within the multifamily sector. The firm is striving to target high-end properties in areas with strong demographics and market fundamentals.
Black Creek Group is a real estate investment management and development firm based in Denver, CO. The company has bought or built more than $20 billion of investments within the past 25 years.