Beach Investment Acquires Multifamily Community in Metro Atlanta for $19M
AUSTELL, GA. — Beach Investment Management, an affiliate of The Beach Co., has acquired Reserve at Sweetwater Creek, a 156-unit multifamily community in Austell, for $19 million. Reserve at Sweetwater Creek is located 15 miles west of downtown Atlanta and was built in 1988. The property offers one- and two-bedroom floor plans ranging from 650 to 1,000 square feet. Communal amenities include a swimming pool, outdoor kitchen, fitness center, tennis court, laundry facility and a cyber lounge. Beach plans to upgrade unit interiors, including installing stainless steel appliances, granite countertops and modern fixtures. Community upgrades will include new roofs throughout the property, conversion of the tennis court into an outdoor fitness center and a new gazebo with a grilling area. Darby Parker of The Beach Co. represented the buyer internally in the transaction. Nate Swenson and Travis Presnell of Cushman & Wakefield represented the seller, Arcan Capital. Berkadia provided arranged acquisition financing on behalf of the buyer.