ATLANTA—Miami-based Atlantic|Pacific Companies (AP) just laid out $200 million to acquire a multifamily portfolio with properties in Georgia and Texas. The multifamily deal boosts A|P's holdings in Georgia to over 2,600 units and in Texas to over 2,300 units.

“AP continues its smart growth with over 5,500 units now acquired within the past three years,” says Mark Briggs, senior managing director at AP Management. The deal marks AP's first investment within the Houston market. AP also owns multifamily properties in Dallas, Austin, and San Marcos, TX.

AP plans to invest in capital improvements, including interior upgrades and common area improvements. The multifamily assets include: Carrington Green and Villas at Southpoint in McDonough, GA; Harris Bridge Overlook in Dallas, GA; Shiloh Valley Overlook in Kennesaw, GA; Villas at West Road in Houston; and The Barons in Dallas.