McDowell Properties has acquired Hudson Willow Trail Apartments in Norcross, GA. Built in 1985, the 224-unit complex is well-located in the Atlanta–MSA, just 30 minutes northwest of downtown Atlanta, positioned along the booming I-85 corridor. The property is in Gwinnett County, one of the nation’s top 10 counties for growth, and is surrounded by numerous job demand drivers including industrial, distribution, medical, education and retail. The property also has connectivity to the 450k jobs located within a 10-mile radius.
Hudson Willow Trail is well-situated for a value-add strategy consisting of renovations and upgrades to overall property. The business plan captures numerous value-add opportunities including renovating 166 classic units, adding 125 washer/dryer sets, assembling 18 private pet yards, and enhancing the curb appeal as well as common area amenities. Additionally, we plan to improve property operations by reducing operational expenses and taking an overall more hands-on approach to management.
Norcross is a quaint suburb of Atlanta, recognized for being one of the best places to live in Georgia, the city offers easy access to downtown Atlanta, without losing the charm of a small town with many nearby schools, shopping and recreation options. Within reach of the property, is a Lowe’s, Kaiser Permanente Medical Center, Berkeley Hills Country Club, Malibu Norcross Amusement Center, Costco, Sam’s Club, Santa Fe Mall, and Westrock headquarters, one of the area’s largest employers. Prominent employers also include PruittHealth, FLEETCOR, EMI Group Limited, Aquilex Holdings, PSI Fulfillment, Kawneer, OFS Brightwave, and OmniMax International.
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 $3.3 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 $19 billion and are secured by over 258,000 apartment units). For additional information about McDowell Properties, visit www.mcdprop.com.