Atlantica Properties and Auerbach Funds to Launch New Affordable Home Ownership Program, OWN DeKalb, Following the Purchase of 72 Single-Family Homes in the County

ATLANTA, Feb. 12, 2019 /PRNewswire/ -- Atlantica Properties, an Atlanta-based real estate investment company and Auerbach Funds, a New York-based real estate private equity fund are launching OWN DeKalb, a unique program designed to help those currently renting to become homeowners. OWN DeKalb will initially focus on the renters of 72 single-family homes in DeKalb County that the partnership purchased last month for $8 million from The Housing Development Corporation of DeKalb County. 

The partnership is dedicated to finding permanent solutions to help increase affordable housing options in metro Atlanta. OWN DeKalb will provide current renters who want to stay in their home with the guidance and resources needed to purchase the home at fair market value with little money down and a monthly payment similar to their current rent amount, and work with each renter and provide them with a Licensed Realtor, a preferred list of lenders, down payment assistance and access to other resources.

"With the purchase of these 72 single-family homes, we immediately saw an opportunity to help resolve Atlanta's affordable housing crisis by changing the narrative – not simply preserving affordable rental units but focusing on creating true equity through homeownership," said Darion Dunn, managing partner of Atlantica Properties.

"We are excited to work with Atlantica Properties to offer these homes for sale in the most responsible and equitable way," said Peter Auerbach, founder and CEO of Auerbach Funds. "We believe that home ownership is paramount to the stability of a community and to families alike, and it is our goal with every investment to establish a sense of commitment to the community while also doing well for our investors."

Atlantica Properties
Founded in 2010 by brothers Darion Dunn and Trenton Dunn, Atlantica Properties is a real estate investment and property management company with a mission to empower individuals by establishing thriving, holistic communities. Focusing on workforce housing in emerging markets, Atlantica Properties acquires and manages single-family and multifamily properties in metro Atlanta. www.atlanticaproperties.com

Auerbach Funds
Auerbach Funds is a privately held real estate investment firm with assets in eight states throughout the continental United States comprising over two million square feet.  Founded by Peter Auerbach, Auerbach Funds aims to partner with experienced operating partners in order to utilize their local expertise, relationships, and deal flow to create diversification and opportunity for its investors. www.auerbachfunds.com

Media Contact: Diana Davidson, (646) 992-4670, [email protected]

SOURCE Auerbach Funds

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