Global Gate Capital has acquired Walton Ashwood, a 160-unit Class A multifamily asset in the Perimeter Center submarket of Atlanta, Georgia, one of the city’s top employment markets. The property, which has been re-branded to Westmount Ashwood, is located at 1000 Ashwood Parkway and features an outdoor pool deck, resident lounge, complimentary coffee bar, fitness center, grilling stations, outdoor fire pit with seating areas, two dog parks, bike storage, on-site dry cleaning and valet trash pickup.
Westmount Ashwood’s excellent location within Perimeter Center is in close proximity to Interstate 285 as well as four MARTA rail stations providing convenient regional connectivity and access to downtown Atlanta and Hartsfield-Jackson International Airport. The property is walkable to an abundance of retail and dining options including Super Target, Walmart Supercenter and a newly constructed Publix. Perimeter Mall is also located nearby with over 150 retailers.
The new ownership intends to make improvements to the common areas and amenities as well as renovate the unit interiors with new appliances, quartz countertops, kitchen backsplashes, updated cabinetry, upgraded lighting, vinyl plank flooring, keyless entry locks, and smart thermostats. Westmount Realty Capital will act as operating partner and will be supported by Greystar for property management. Debt financing for the project was provided by CIBC Inc.
Rudy Sayegh, CEO of Global Gate Capital, said: “We are pleased to complete this transaction which represents our 6th US multifamily investment this year. We have been investing in US multifamily since 2014 and are excited to continue to grow our portfolio.”
Philip Tager, Head of US Real Estate at Global Gate Capital, said: “We are delighted to be making our second multifamily investment in Atlanta this year, a market Global Gate is keen to invest more in. Investing in sunbelt states across the southeast and southwest is integral to Global Gate’s investment strategy.”
