Equus Capital Partners, Ltd. Acquires 228-Unit Multi-Family Community in McDonough, GA for $63.25m
McDonough, GA – November 3, 2021 – Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading real estate investment managers, announced today that an affiliate has acquired Carmel Vista, a newly built, 99% occupied, 228-unit Class-A luxury apartment community located in McDonough, GA, from Vista Realty Partners for $63,250,000. The acquisition was made on behalf of Equus Investment Partnership XII, L.P. (“Fund XII”), a targeted $500 million discretionary equity fund managed by Equus, and which opened for investment in August 2021. Madison Apartment Group, L.P. (“Madison”), the multi-family operating arm of Equus, will manage the community.
Carmel Vista was built earlier this year with each apartment unit featuring direct ground floor entries, 9’ ceilings, luxury interior finishes including gourmet kitchens with stainless steel appliances, granite countertops, plentiful modern shaker-style cabinets, and built-in microwaves. Additional features include oversized closets and direct access garages in select units. The building exteriors are constructed of Hardi siding, Hardi panels, and stacked stone. The roofing system is wood trusses with 30-year architectural asphalt shingles with metal panel roofs over entries. Amenities at the property include a salt-water pool with Wi-Fi sundeck, an expansive clubhouse featuring a business center, coffee bar, game room, fitness center with strength training and cardio equipment, controlled access private gates, Luxor package system, and a dog park. The site includes 478 total parking spaces, including 28 attached garages and 4 detached garages.
Carmel Vista is located at the intersection of I-75 and Jonesboro Road in McDonough, Henry County, GA. The property is situated at the center of a major industrial path of growth along I-75. Major employers within the area include the Atlanta Hartsfield International Airport, Delta Global HQ, Trilith Studios Atlanta, Blackhall Studios, Georgia Power Company, Piedmont Henry Hospital, Southern Regional Medical Center, Chick-Fil-A Global HQ, Porsche North American HQ, Kaiser Permanente Henry Medical Center, and the Atlanta, Clayton, and Henry County School systems.
“We are very excited about how this property plays perfectly into our multi-family strategy of acquiring high quality assets in fast growing desirable suburban locations. Additionally, we were attracted by the substantial industrial job growth in the corridor,” commented Nicoletta DeSimone, Acquisitions Manager for Equus who oversaw the acquisition for the firm. “Henry County has experienced incredible growth in the last several years making it a truly underserved market from a multifamily standpoint. We are eager to begin the amenity expansion program to continue to enhance the resident experience and elevate what the complex has to offer McDonough and the broader Henry County.”
David Gutting of Newmark represented the seller in the transaction. Stephen Comly of Newmark assisted Laura Brestelli, Vice President of Equus on the acquisition financing efforts.
About Equus Capital Partners, Ltd. Equus Capital Partners is one of the nation’s leading real estate investment managers. Equus’ diversified portfolio consists of office, multi-family, and industrial properties located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Chicago, Los Angeles, Washington D.C., Atlanta, Arizona, Raleigh-Durham, and South Florida. For additional information, please visit the company’s website at www.equuspartners.com.
For additional information on the company, please contact:
Joseph G. Nahas, Jr, Senior Vice President, (215) 575-2363
For additional information on the property, please contact:
Nicoletta DeSimone, Acquisitions Manager
(610) 355-3216 or NDeSimone@equuspartners.com