December 6, 2020
FCP and partner Croatan Investments have divested from Magnolia at Whitlock Apartments, a 152-unit apartment community in Atlanta’s Marietta submarket. The sales price was not disclosed.
The community consists of primarily two and three-bedroom units with in-unit washers and dryers. Since it’s acquisition in 2016, the property has received approximately $2.2 million in improvements to common areas and amenities as well as in-unit renovations. The property is nearby employers Lockheed Martin and Dobbins Air Force Base as well as the Battery Atlanta mixed-use development and historic downtown Marietta.
Andrew Mays, Matt White, Judy MacManus and Paul Vetter of Berkadia brokered the sale on behalf of FCP and Croatan Investments. The buyer was not disclosed.
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Tags: Apartments & Multifamily