Acore Capital Lends $55M on Suburban Atlanta Multifamily Asset
S2 Capital has sealed $54.8 million of acquisition financing for the purchase and renovation of a garden-style apartment community in suburban Atlanta, Commercial Observer has learned.
Acore Capital provided the loan on S2’s newly acquired Legacy Key Apartments in Sandy Springs, Ga. Northmarq’s Lauren Bresky arranged the transaction.
“We are excited to be a part of this transaction and to partner with S2 Capital, which has a deep level of experience with this type of property,” Scott Durco, director at Acore Capital, said in a statement. “The supply-constrained nature of this submarket in a high-growth metro like Atlanta positions the asset for long-term success.”
Located at 8800 Dunwoody Place 20 miles north of Downtown Atlanta, the 350-unit apartment complex was built in 1980 and comprises one- and two-bedroom units. Its amenities include a fitness center, a laundry room, a business center, a picnic area and a tennis court.
S2 Capital declined to comment.
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