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A pair of real estate investment partners plans to convert The Spoke extended-stay hotel in Peachtree Corners into a “tech-oriented” multifamily community.
Charleston, S.C.-based Blaze Capital Partners and Wayne, Pa.-based Argosy Real Estate Partners recently acquired the property, which is located at 450 Technology Parkway NW in Atlanta TechPark.
The partners plan to invest in interior and exterior improvements to the asset, which has already gone recent upgrades, including a remodeled clubhouse, gym, sport court and pool area. Unit interiors have also been modernized and feature hard-surface countertops, stainless-steel appliances and updated lighting fixtures.
Blaze and Argosy intend to focus their interior upgrades on smart-home and technology-based work-from-home spaces. Their common-area improvements include remodeling the clubhouse and leasing office, new signage and converting the basketball court to an amenity space.
“Residents will have access to a full suite of amenities, including community-wide Wi-Fi, a tech-centric clubhouse with coworking spaces and fitness offerings, upgraded pool and sun deck, and outdoor social spaces,” Blaze co-founder and managing partner Chris Riley said in a press release. “Located at the front door of Atlanta TechPark, The Spoke at Peachtree Corners offers unparalleled walkability in this submarket and convenient access to a major employment hub, in addition to everything Northeast Atlanta has to offer.”
The acquisition of The Spoke, which was built in 1989, marks Blaze’s third closing this year.