ATLANTA, GA – FCP announced the acquisition of $ 30.0 million in Villas at Princeton Lakes, a 210-unit shared apartment in the South Fulton area of Atlanta, GA. The acquisition marks FCP's 18th investment in Atlanta. FCP took over the existing loan on the property.
"The Princeton Lakes mansions are a very well-kept property next to the booming South Fulton Industrial corridor," said Scott Reibstein of FCP. Reibstein continued, "We are delighted to have acquired our second church there, which is central to so much growth." The property was purchased as part of an off-market transaction, recently renovated and 95% occupancy by 2020.
Located at 751 Fairburn Road, SW in Atlanta, the Villas at Princeton Lakes are an attractive, garden-style community built in 2004 with hard plank and brick paneling. The community has large, family-friendly floor plans with one, two, and three bedrooms, additional storage space, private decks, and excellent access to Hartsfield Atlanta International Airport, Interstates 285 and 20, and nearby retailers and restaurants.
FCP would like to thank Travis Presnell of Cushman & Wakefield for his representation
FCP is a privately held real estate investment company that has invested or financed more than $ 8.3 billion in assets since its inception in 1999. FCP invests directly and with operational partners in commercial and residential assets. The company invests in equity and mezzanine in income generating and development properties.