The Stewart’s Mill Apartments in Douglasville have been sold to Viking Capital.
The multifamily real estate investment company has acquired the 188-unit apartment community for $28.2 million.
Located at 3421 Stewart Mill Road, the Stewart’s Mill Apartments were built in 1988. FCP acquired the community in March 2020 in a portfolio acquisition along with two other apartment communities.
“FCP is pleased to have completed the successful execution of our business plan at Stewart’s Mill, providing the property with numerous capital improvements and amenity upgrades to improve the resident experience,” FCP’s Michael Errichetti said in a press release. “We appreciate the smooth transaction process with Viking Capital and are confident they will be an excellent steward of the property.”
Nathan Swenson, Wesley Kenney, Brooks Colquitt and Robert Yates of Cushman & Wakefield represented FCP in the sale.
The Stewart’s Mill property is Viking Capital’s 25th acquisition, with the company having acquired more than $800 million in assets. They plan an extensive renovation to the property to enhance the resident experience.
Viking Capital was founded in 2015. With a focus on acquiring large multifamily apartment complexes, the company helps healthcare professionals build wealth through passive investing.
Douglasville is west of Atlanta.
