ATLANTA—WP Carey (WPC) just tag teamed on the acquisition of two multifamily properties in Atlanta. WPC’s CPA:18 – Global bought a 97% interest in Dupont Place Apartments in Tucker, GA and Gentry’s Walk in Chamblee, GA. CPA:18 partnered with Carroll Organization and Silverpeak Real Estate Partners, which own the remaining interest. The total purchase price was $46 million.

“These investments represented an opportunity to secure assets with strong in-place cash flow and the potential to enhance future returns through targeted capital improvements and the installation of a professional local asset management team,” says Gino Sabatini WPC’s co-head of Global Investments. The transactions, he adds, are consistent with the firm’s strategy of acquiring income-generating assets backed by solid real estate with significant value-add opportunities.

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