McDowell Properties has acquired Brandon Glen, located in Conyers, GA, in joint venture with RSE Capital Partners, a subsidiary of Fundrise. The complex is less than a 30-mile drive from downtown Atlanta and is located within a mile of Piedmont Rockdale Hospital, a 138-bed full-service hospital with 1,300 employees.
Built in 1995, the complex features 180 units which include 52 3-bedroom/2-bath townhomes with are unique to the marketplace. The community offers a clubhouse, swimming pool, on-site laundry facility (all units include connections), barbecue and picnic area, and a playground.
Conyers is a quaint suburb of Atlanta which offers a plethora of parks, shopping centers and restaurants while also offering residents a dense suburban feel. Some of the major employers in the area consist of 20th Century Fox Television, Warner Brothers / Bonanza Productions, Diversitech Corporation, Pratty Industries, Acuity Lighting Group, Golden State Foods, AT&T, Piedmont Rockdale-Hospital, and Tempur-Sealy Mattress Company to name a few.
McDowell Properties believes there is a significant opportunity to add value to the property through interior renovations, amenity enhancements, and washer/dryer additions. At acquisition, only 49 units were fully renovated with the remaining units in classic condition.
About McDowell Properties:
McDowell Properties, which has six offices across the United States, invests in multifamily assets across the risk spectrum including debt, affordable housing, core plus and value-add investments. Since 2004, McDowell Properties has acquired over $3 billion of multifamily assets (over 40,000 units) and has been an active buyer of subordinate CMBS debt secured by multifamily loans (total loan balances of $16 billion and are secured by over 232,000 apartment units).
About Fundrise and RSE Capital Partners:
www.fundrise.com | www.rsecap.com
Fundrise, and its subsidiary RSE Capital Partners, is a principal investor in exceptional residential and commercial real estate across the United States. They have invested in over $5 billion of institutional-quality real estate, including over 20,000 multifamily units in 25 states.