McCann Realty Partners Acquires Two Apartment Assets Totaling 444 Units

McCann Realty Partners announced the acquisition of two garden-style properties in suburban Atlanta totaling 444 apartments in its portfolio.

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Five Oaks, a community of 280 three- and four-story homes built in 2005, is a suburban garden community that features 1, 2, and 3-bedroom floor plans and high-quality amenities, including a Resort style, outdoor grilling resort, fitness center and community clubhouse, all located in a low density setting on over 11 acres. Five Oaks is located at 1200 Montreal Road in suburban Dekalb County, close to the Lawrenceville Freeway and Interstate-285 and enjoys convenient access to major transportation routes, popular shopping centers and excellent connectivity to major MSA Atlanta employment hubs.

Hawthorne Gates, a community of 164 three- and four-story homes built in 1995, is a suburban garden community that offers large floor plans with 9-foot ceilings and high-quality amenities, including detached garages , swimming pool, outdoor grilling station, fitness center, tennis courts, dog park, and community clubhouse, all located in a low-density setting on just over 9 acres. Hawthorne Gates is located at 7200 Peachtree Dunwoody Road off US-19 in a mixed commercial, retail and residential area of ​​Fulton County and enjoys excellent connectivity to major MSA employment hubs in ‘Atlanta.

McCann will invest capital to improve the exterior finishes, interiors and amenities of each asset. Both properties will be managed by McCann’s Atlanta-based affiliate property management company, Pegasus Residential, based in Alpharetta, Georgia.

“We are thrilled to bring our team’s touch to these properties,” said Thomas Upson, head of acquisitions for McCann in a statement. “We will spend significant capital to improve properties that will benefit residents.”

“We are excited to acquire additional assets in the Atlanta market,” said Matt Akin, president of McCann. “These two assets are very well located and in nearby submarkets that have strong fundamentals for growth. Each investment presents a unique opportunity for McCann and Pegasus to improve operations that will enhance the living experience of our residents.