Miami-based Atlantic Pacific Companies acquired Canterbury Ridge Apartments in Canton via its affiliate Blue Atlantic Partners for an undisclosed amount.
Atlantic Pacific plans to rename the 212-unit, garden-apartment community Atlantic Canton Ridge. The acquisition brings Atlanta Pacific’s Georgia multifamily portfolio to 19 properties with over 4,500 units. The company formed a joint venture with another Miami-based firm, Highline Real Estate Capital, to purchase the 101-unit Arcadia Decatur Apartments in August.
Located at 101 Canterbury Ridge, the community’s amenities include a pool, fitness center, resident clubhouse and playground. Apartments come in one-, two- and three-bedroom floorplans ranging from 654 to 1,338 square feet.
Atlantic Pacific plans to conduct a multi-million-dollar renovation program, including interior upgrades with quartz countertops, amenity enhancements and exterior improvements. The company will manage the property.
“The Atlantic Canton Ridge is in one of metro Atlanta’s most dynamic corridors and offers residents excellent access to employment centers, shopping destinations and schools,” Brett Duke, Atlanta Pacific president of investment management, said in a press release. “This property is another great addition to our growing Georgia portfolio and furthers our strategy of buying exceptional properties in growing markets at compelling prices.”
The community’s amenities include a pool, fitness center, resident clubhouse and playground. Courtesy of Atlantic Canton Ridge.