FCP® announces the acquisition of Westwood Glen, a 247-unit apartment community in Atlanta, GA for $24.5 million. The acquisition marks FCP’s 21st investment in Atlanta and the 9th in the city’s Westside.
“Located in the same submarket as two other FCP communities, Westwood Glen is a well-maintained asset in a location primed for continued growth,” said FCP’s Scott Reibstein. Reibstein continued, “FCP has a strong presence in West Atlanta, which is proximate to the thriving South Fulton industrial corridor, one of the largest corridors of its kind in the U.S., generating robust job growth and demand for housing.”
Westwood Glen is located at 1225 Fairburn Road, SW and features one and two-bedroom floorplans with hardwood floors, pool with sundeck, and a children’s playground in a lush, wooded setting. FCP plans to improve amenities at the community, including the addition of a dog park, package lockers and grilling areas.
FCP extends its appreciation to Paul Vetter and Andrew Mays of Berkadia for their representation.
FCP® is a privately held real estate investment company that has invested in or financed more than $8.6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.