An Atlanta real estate investment company has acquired a 334-unit McDonough apartment complex.
ARC Multifamily Group has purchased The Preston for $52.4 million, Atlanta Business Chronicle reports. The apartments at 100 Preston Creek Drive feature one-, two- and three-bedroom units.
Amenities include two swimming pools, a barbecue area with grills, a fitness center, tennis courts, a volleyball court, a business center and a resident lounge.
Headquartered in Atlanta, ARC Multifamily Group was founded in 2019. The privately held real estate investment and asset management company seeks to acquire developments with 100 units or more, focusing on the South and Southeast.
Their portfolio includes several other Georgia properties, including Cameron Run in East Point, Hunters Run in Macon, Netherley Park in Union City and The Blakely in Pendergrass.
“ARC’s purchase of The Preston is an important milestone for ARC Multifamily Group,” CEO Robert Pereira said. “ARC has now crossed the 2,000 mark in number of apartment units owned and operated.”
