Two Waters Capital Acquires The Parc at 1875 for $30M
Amenities include a car care center, fitness center, pet walk and care stations, a playground, sports court and swimming pool.
ATLANTA, GA—Two Waters Capital Management has acquired The Parc at 1875, a 352-unit apartment community located in Atlanta, for $30 million. Cushman & Wakefield’s Tyler Averitt and Nathan Swenson represented the sellers, Sage Equities and M. Banks Realty Partners, in the transaction.
“After selling the asset to our client in 2015, we witnessed a transformation of the property that resulted in record pricing for the submarket,” Averitt says. “The new owner is primed for continued long term growth through the completion of the proven value-add initiative.”
Built in 1988, The Parc at 1875 is strategically situated just south of Hartsfield-Jackson International Airport, and benefits from numerous employment drivers in the rapidly expanding Atlanta aerotropolis district. Amenities include a car care center, fitness center, pet walk and care stations, a playground, sports court and swimming pool.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region. In 2017, the group closed $4.8 billion in sales volume through 268 deals and more than 55,000 units.