A joint venture between RangeWater Real Estate and Nippon Steel Kowa Real Estate (NSKRE) acquired the 258-unit Provenza at Old Peachtree garden-apartment community in Suwanee. It will be renamed Echo Ridge Suwanee.
The development, located at 1460 Distribution Drive, offers amenities like a pool with grilling stations, outdoor patio with fireplace, fitness center, residents’ clubroom and community pond with walking trails. RangeWater is contemplating adding a dog park and pet spa.
The apartments, which were built in 2013, come in one-, two- and three-bedroom formats. Features include separate dining and living areas, gourmet kitchens with granite countertops, stainless-steel appliances and oversized pantries, bathrooms with soaking tubs, outdoor balconies and storage.
“This is our second acquisition in partnership with NSKRE, and we are excited to continue expanding our portfolio in burgeoning Gwinnett County, one of the fastest growing and most diverse counties in the state of Georgia,” RangeWater President and CEO Steven Shores said in a release. “This location is a fantastic addition to our local portfolio of communities. We look forward to enhancing the intrinsic value of the Provenza at Old Peachtree community and enriching the lives of our residents who will call Echo Ridge Suwanee home.”
Metzler Real Estate advised the partnership on the acquisition.
Provenza at Old Peachtree was built in 2013 and comprises garden apartments. Courtesy of RangeWater Real Estate.