The investment and wealth-management firm rebranded the asset, which is located at 1000 Ashwood Parkway, as Westmount Ashwood. The property’s common-area amenities include an outdoor pool deck, resident lounge, complimentary coffee bar, fitness center, grilling stations, outdoor fire pit with seating, two dog parks, bike storage, on-site dry cleaning and valet trash pickup.
Global Gate plans to improve the community’s common areas and renovate apartment interiors with new appliances, quartz countertops, kitchen backsplashes, new cabinetry, upgraded lighting, vinyl-plank flooring, keyless-entry locks and smart thermostats, according to a press release.
“We are delighted to be making our second multifamily investment in Atlanta this year, a market Global Gate is keen to invest more in,” said Philip Tager, head of U.S. real estate at Global Gate. “Investing in Sunbelt states across the Southeast and Southwest is integral to Global Gate’s investment strategy.”
The transaction marks Global Gate’s sixth U.S. multifamily acquisition over the last year, CEO Rudy Sayegh said, adding that the firm has been investing in the sector since 2014.
Westmount Realty Capital will act as operating partner, while Greystar will provide property-management services. CIBC Inc. provided debt financing. Other terms of the transaction were not released.