CHARLESTON, S.C., Dec. 14, 2017 /PRNewswire/ -- Blaze Partners, LLC ("Blaze") and Bailard, Inc. ("Bailard") are pleased to announce the acquisition of 1760 Apartments Homes, a 239-unit midrise community located in Lawrenceville, GA, by a newly formed partnership between affiliates of the parties. The asset was acquired in an all-cash transaction that closed on December 7, 2017.
"We believe the northern suburbs of Atlanta will continue to experience significant growth in the foreseeable future with apartment communities continuing to provide a compelling housing option for those seeking a flexible, cost-effective lifestyle," said Chris Riley, co-founder and Managing Partner of Blaze. "1760 is a best-in-class, core suburban asset that we believe provides residents a truly unique, boutique home experience."
Located in a rapidly growing suburban pocket of Gwinnett County in Atlanta, 1760 Apartment Homes is situated on the highly-trafficked interchange of Route 316 and Sugarloaf Parkway, providing significant visibility and abundant access to healthcare and education employment hubs with proximity to attractive lifestyle amenities. The luxury community was recently completed in 2017 by LIV Development and offers residents a variety of finely appointed one-, two-, and three- bedroom units and access to an expansive amenity package.
The transaction represents a continuation of the companies' collective focus on building its multifamily exposure throughout key markets in the Southeast through the acquisition of value-add and core-plus multifamily opportunities. "Bailard is excited to cap off 2017 with the 1760 Apartment Homes acquisition in our second joint venture with Blaze," said Tess Gruenstein, Vice President of Bailard. "This transaction represents a strategic focus for the company and further deepens our investment presence in the Southeast, including the Atlanta market."
About Blaze Partners
Blaze Partners is a multifamily investment firm focused on owning and operating institutional rental housing communities throughout the United States with a specific focus on the Southeast. Headquartered in Charleston, SC, the Company offers a full suite of investment services including research, acquisitions, development, and asset management capabilities. Blaze Partners was founded by Chris Riley and Eddy O'Brien in 2016 with the goal of establishing a premier real estate investment firm with focused specialization across the rental housing spectrum. To learn more about Blaze, visit www.blazepartners.com.
Bailard Inc. is an employee-owned investment advisory firm based in Foster City, CA. The company manages traditional and alternative investment strategies such as real estate for institutional and private clients. Since Bailard opened its doors in 1969 in the San Francisco Bay Area, the firm has sought innovative ways to build wealth, thoughtfully manage risk, and generate consistently solid returns for its investment clients. Bailard has remained employee-owned and, with just under $4 billion in assets under management, offers public and private pension plans, foundations, endowments, Taft Hartley plans, and sovereign wealth funds as well as private individuals and family offices carefully-crafted proprietary investment strategies and products, as well as stability and discipline in order to provide outstanding results and exceptional personal service.
SOURCE Blaze Partners, LLC