Blaze Capital Partners acquired the 251 North garden apartments in Old Fourth Ward with plans for significant upgrades to unit interiors and community spaces.  

251 North is located at the intersection of Central Park Place and North Avenue. Courtesy of Google Maps.

The three-story, nine-building complex contains 192 one- and two-bedroom units, 73 of which are “premium,” featuring granite countertops, stainless-steel appliances and vinyl-plank flooring. Blaze plans to upgrade the remaining 119 units to the premium model.  

Built in 1989, the community sits on six acres of land at 300 Cityline Ave. NE, at the intersection of Central Park Place and North Avenue. It offers a resort-style pool with sundeck, fitness center, pet-washing station and fire pit on shared patio space. Blaze’s value-add strategy includes repainting building exteriors and enhancing existing community amenities. 

“Midtown Atlanta is a flourishing submarket with a dynamic entertainment atmosphere, an established employer presence and strong renter demand,” Blaze co-founder and managing partner Eddy O’Brien said in a press release. “As more companies and people continue to migrate to this booming city, that demand will only grow. 251 North will provide residents with spacious apartments and luxury amenities right in the middle of everything Atlanta has to offer.” 

Blaze did not provide financial details about the transaction, but the property last sold for $36.5 million in July 2019, according to Fulton County records. 

Charleston, S.C.-based Blaze has been an active acquirer in Atlanta this year, most recently purchasing the 180-unit 55-plus Annabelle on Main multifamily community in Duluth.