Emma Capital Continues its Expansion into the South-East with the Purchase of 555 Mansell Apartments (200 Units) and 50 Stoneview Apartments (236 Units) Located in Roswell and Lilburn, GA Respectively (MSA Atlanta) at a Combined Purchase Price of $US 36,562,000
Jul 19, 2016, 11:11 ET
TORONTO, July 19, 2016 /PRNewswire/ -- Emma Capital Investments Inc. ("Emma Capital") is pleased to announce the acquisitions of two properties – 555 Mansell (200 units), located at 555 Eagles Crest Village Lane, Roswell, GA and 50 Stoneview (236 units), located at 50 Stoneview Trail, Lilburn, Gwinnett County, GA (the "Properties"). The Properties were purchased at a combined purchase price of $US 36,562,000. These are Emma Capital's 15th and 16th acquisitions in the U.S., bringing Emma Capital's total portfolio to date to over 3,500 apartment units.
The Properties are well positioned in two strong submarkets of Atlanta.
555 Mansell is situated on 14.3 Acres and features 200 units in 7 different floor plans made up of 92 one-bedroom units, 96 two-bedroom units and 12 3-bedroom units as well as newly renovated amenities. Units feature private balconies, patios and wood burning fireplaces. 555 Mansell is ideally located just off of Alpharetta Highway on Mansell Road in the city of Roswell. Located within the heart of the Greater North Fulton area, 555 Mansell benefits from a location known as one of the most highly regarded suburban enclaves in the U.S., with nationally acclaimed public schools, high- end executive and country club homes as well as the MSA's largest job corridor along the GA-400 spine. With over 150,000 high paying jobs in high-tech, medical, financial, transportation, automotive, manufacturing telecom, and healthcare-IT, the area has become one of the nation's top 50 wealth centers.
50 Stoneview is situated on 32.6 Acres and features 236 units in 14 two and three – story buildings as well as newly renovated amenities. 50 Stoneview offers two different floor plans made up of 60 one-bedroom units and 176 two-bedroom units, averaging 1,049 square feet per unit, which is one of the largest in the submarket. The property is located in one of Gwinnett County's premier multifamily submarkets, Lilburn, in the southern part of Gwinnett County and offers residents quick access to Duluth, Suwanee, and Doraville in Atlanta. South Gwinnett is situated a quick 13 miles northeast of downtown Atlanta and is approximately 2 miles outside of the I-285 (the Perimeter Highway Loop circling Atlanta), providing excellent regional connectivity. Gwinnett County is the second most populous county in Georgia with over 850,000 people as well as one of the fastest growing counties evidenced by the 47% population increase since 2000.
"We are very excited about these two acquisitions," stated founding Partner and Co-Owner Haya Zilberboim. "Both Properties offer Emma Capital an opportunity to simultaneously acquire attractive assets with tremendous upside potential in the two strong submarkets Atlanta. The previous owner of the Properties has invested substantially in the Properties' amenities, allowing Emma Capital to concentrate its efforts on rent growth initiatives through rent premiums for unit interior upgrades and the improvement of the overall experience of the residents."
"We are extremely excited about these acquisitions," added Partner and Co-Owner Oz Cohen. These acquisitions are our 15th and 16th in the United States. With over 3,500 units in our portfolio and over 2,500 in the Southeast, we have a very strong base to continue our expansion to other Southeast submarkets such as Charlotte, Raleigh and Nashville."
About Emma Capital
Emma Capital (emma-capital.com) was founded in 2012 and specializes in the identification, financing, acquisition and operation of multi-family residential complexes, in particular in the Sun Belt States in the U.S. The typical Emma Capital project involves 100+ class "B" apartment communities with value-add opportunities, delivering strong cash flow and long-term appreciation while preserving capital. To date, Emma Capital's portfolio consists of total purchased value of over $US 250,000,000 of property and approximately 3,500 units in the Phoenix and Atlanta and Charlotte markets.
For further information:
Please contact:
Haya Zilberboim
Email
(647) 686-5594
Oz Cohen
Email
(416) 731-4849
SOURCE Emma Capital Investments Inc.