DULUTH, GA – Privately-held real estate investment company FCP has acquired a 164-unit vintage apartment community in Duluth, GA within Gwinnett County for $37.7 million.
The Villas at Duluth apartments is primarily comprised of three- and four-bedroom units. The community features a pool, clubhouse, fitness center, playground and dog park.
Located at 1470 Boggs Rd. NW and situated near the intersection of I-85 and University Pkwy, the community offers access to major employment centers throughout the county, Alpharetta and Peachtree Corners.
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The acquisition represents FCP's third investment in Gwinnett County. Since 2015, the firm has invested in 32 properties in the Atlanta market.
"Villas at Duluth expands FCP's presence in Gwinnett County which continues to be a leader of population and employment growth in the region," says FCP's Michael Errichetti. "Made up primarily of 3- and 4-bedroom units, Villas at Duluth caters well to the family demographic of the neighborhood."
For the Villas at Duluth, FCP is partnering with local operator Zevulon Capital.
With the recent transaction, FCP's multifamily portfolio now totals 6,566 units.
Berkadia represented the seller in the transaction.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
