The joint venture (JV) between U.S. real estate private investment firm Citymark Capital and peer InterCapital Group has bought a two-property, Evergreen apartment portfolio in Fairburn, Georgia.
The JV acquired the assets, which include the 310-unit Evergreen Park and the 244-unit Evergreen Terrace, located nearly five miles apart in Fairburn, for $69.4 million.
Evergreen Park and Evergreen Terrace, constructed in 2002 and 2008 respectively, include a mix of one,- two- and three-bedroom apartment homes. Evergreen Terrace also offers a four-bedroom floor plan.
The JV is planning to further upgrade all common areas, unrenovated units across the gated, garden-style communities as well as add pet and leisure amenities.