FCP ACQUIRES VILLAS AT DULUTH APARTMENTS IN ATLANTA FOR $37.7 MILLION

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Apr 19, 2022, 10:15 ET

CHEVY CHASE, Md., April 19, 2022 /PRNewswire/ -- FCP_® announces the acquisition of Villas at Duluth apartments in Gwinnett County for $37.7 million. The 164-unit vintage apartment community at 1470 Boggs Road, NW is well-located near the intersection of I-85 and University Parkway, providing easy access to major employment centers throughout the County, Alpharetta, and Peachtree Corners. FCP has invested in 32 properties since its entry into the Atlanta market in 2015 and its multifamily portfolio in the market now stands at 6,566 units. Villas at Duluth marks the firm's third investment in Gwinnett County.

"Villas at Duluth expands FCP's presence in Gwinnett County which continues to be a leader of population and employment growth in the region," said FCP's Michael Errichetti. "Made up primarily of 3- and 4-bedroom units, Villas at Duluth caters well to the family demographic of the neighborhood."

Villas at Duluth is set within a wooded enclave with amenities including a pool, clubhouse, fitness center, playground, and dog park. The community is close to popular retail centers including Sugarloaf Mills.

FCP will be partnering with Zevulon Capital, an experienced local operator based in Atlanta, marking their third partnership together. FCP extends its appreciation to Berkadia for their representation of the seller.

About FCP
FCP_® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.