(To read more on the multifamily market, click here.)

NORCROSS, GA-Seattle-based Orion Residential LLC has acquired the 382-unit Dunleaf Apartment Homes at 1300 Beaver Ruin Rd. and changed its name to Orion at Gwinnett Pointe.

“The acquisition of Orion at Gwinnett Point represents an example of our continued pursuit of quality apartment assets in the Atlanta market,” says Orion president and CEO Brian Ward. “It is exceptionally well located immediately off a high traffic corridor and with close proximity to major freeways and employment centers along with a high-quality amenity package.”

The apartment complex was constructed in 1999 and is located about 1.5 miles southeast of Interstate 85 and seven miles from Interstate 285. Property managers are Lincoln Property Co. One-bedroom, one-bathroom units currently rent for $735 to $835; two-bedroom, two-bathroom units rent for $890 to $940 and three-bedroom, three-bathroom units rent for $1,060 to $1,095.

Orion principal Daniel Gumbiner, who is based in the firm’s Chicago office, led the acquisition on behalf of joint venture between GE Real Estate and Orion. Paul Berry, of CB Richard Ellis, represented the seller in the transaction. Debt financing for the transaction was provided by Allianz.

Orion plans to upgrade the unit interiors, the fitness center and the club house. “We are optimistic about the Atlanta multifamily market, the recent decline in concessions combined with the limited supply of new rental product should generate strong returns for quality apartment communities,” Gumbiner says.

This is the second apartment community Orion has acquired in recent months in the Atlanta area. In April, the company acquired the 256-unit AMLI at Killian Creek Apartments in Snellville and changed its name to Orion at Killian Creek. The company owns and operates 4,700 apartment units throughout the country.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.