ATLANTA-New York-based Investcorp is a step closer to its $200 million in planned apartment property investments with the acquisition of the Gardens of Dunwoody in Atlanta and Andover Woods in Charlotte.

Investcorp paid $84.45 million or an average $70,257 per unit for the combined 1,202 units.

The company paid locally based Post Properties Inc. $67.25 million or $83,024 per unit for the 810-unit, 100-acre Gardens of Dunwoody in Atlanta and $17.2 million or $43,878 per unit to an undisclosed seller for the 392-unit, 19.5-acre Andover Woods apartments in Charlotte.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.