ATLANTA, GA – Emma Capital Investment has announced that it has acquired Center at Peachtree Corners, a 272 unit community at 3325 Holcomb Bridge Road, Peachtree Corners 30092, for $ 45,250,000. This is Emma Capital's 41st purchase in the United States and the first acquisition for Emma Capital Investments Value Add Fund I (the "Fund"), bringing the total homes acquired to over 10,000 units.
Peachtree Corners is an affluent Gwinnett County town conveniently located off I-85, I-285 and GA-400. The 17 square mile city was founded in 2005. The city's business-friendly environment has attracted over 2,300 companies. Peachtree Corners is the business leader of Gwinnett County, Atlanta's fastest growing county.
The property sits on 20.13 acres at the intersection of Holcomb Bridge Road, Peachtree Industrial Boulevard and Peachtree Parkway (also known as GA-141). The property benefited from a major $ 10.7 million redevelopment between 2012 and 2017 that included new air conditioning, roofs, windows, paint, clubhouse, and hardie plank siding, plus renovations of all interiors with wooden floors, black appliances, and faux granite countertops, new Cabinets and track lighting.
"We are very excited about this first acquisition in our new Value Add Fund," said founding partner and co-owner Haya Zilberboim. "We have had great success with our other properties in Atlantica and our strength and experience in the marketplace provides us with a great opportunity to leverage our resources to focus immediately on rental growth initiatives and capital improvement projects such as income-generating residential interiors."
“The Center at Peachtree Corners is another strong investment opportunity for Emma Capital in the Atlantic market,” added partner and co-owner Oz Cohen. "The city of Peachtree Corners is dynamic and growing, with leadership focused on well-designed, strategic development that is sure to generate business interest and encourage future expansion. We are very pleased with the performance of our current holdings in Atlanta, Phoenix, Orlando , Nashville, Indianapolis and the Carolinas and continue to focus on other new southern markets such as Dallas, Austin and Tampa. "
Source: Emma Capital