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Investcorp, Partners Shell Out $84.45 Mil for 1,202 Units

ATLANTA-The New York-based firm 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.

By Shelley M. Johnson | Updated on April 18, 2001

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.

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