“As we continue to expand our portfolio, we are thrilled to be a part of Charlotte and northeast Atlanta's progress as the population continues to grow and residents follow the job development and expansion of these areas,” says Mauricio Gruener, co-founder of Momentum Real Estate Partners.

In late January, Momentum Real Estate Partners' acquired the Heights at Old Peachtree, a 258-unit, Class A, garden-style apartment community in the Northeast Atlanta community of Suwanee, GA.

The firm secured $32.8 million in financing for the acquisition of the property in a deal brokered by HFF. Momentum secured a seven-year, fixed-rate loan with a correspondent life insurance company. The loan includes five years of interest-only payments.

This property is prominently situated immediately northwest of the Old Peachtree Road and Interstate 85 interchange and is near numerous retail, entertainment and recreational opportunities. The property proved attractive because the area has recently experienced several large corporate relocations and expansions.

The property offers seven one-, two- and three-bedroom floor plans averaging 941 square feet. In addition to in-home amenities, the community features a resort-style pool, an outdoor entertainment area with a grilling station and fireplace, fitness center, clubhouse, professional chef's kitchen, private conference room, car care center and a scenic lakefront nature trail. Momentum Real Estate plans to rebrand the property as Provenza at Old Peachtree.

Just before that acquisition, Momentum Real Estate Partners acquired Copus I, a 204-unit property built in 2017 in the Indian Trail suburb of Charlotte, NC, another high-growth market for Momentum Real Estate, which has a capital investment program planned for the newly acquired property.

The investment is geared at improving the amenity package, which is scheduled to begin later this year. Copus 1 features a club house and 10 residential buildings as well as amenities such as a dog park, a two-story fitness center, pool and outdoor spaces with gazebos, grills, hammocks, running trails and gardens. The property will be rebranded by Momentum Real Estate Partners as Provenza at Indian Trail.