Sagard Real Estate recently acquired Belmont Place, a 326-unit class A garden-apartment community in Marietta. Financial terms were not disclosed.
Located at 2825 Windy Hill Road Southeast in the Cumberland/Galleria submarket, Belmont Place comprises 12 buildings across a 25.75-acre site. Community amenities include a resort-style pool, clubhouse, fitness center, game center, remote-work lounge, tennis courts, outdoor courtyards and car wash.
The community is 94% leased and offers a mix of one-, two- and three-bedroom apartments averaging 1,055 square feet. Units feature nine-foot ceilings, full-size washers and dryers, plank flooring, granite countertops, stainless-steel appliances and private balconies.
Sagard is planning a capital-improvement program focused on select unit renovations and amenity enhancements.
“Belmont Place is a compelling addition to our multifamily portfolio, combining scale, institutional-quality construction and a low-density site in one of Atlanta’s most desirable suburban markets,” said Matt DiVito, managing director, acquisitions at Sagard. “The Cumberland/Galleria corridor benefits from strong demographics, deep employment access and limited directly competitive new supply, all of which support our long-term conviction in the property. We believe targeted upgrades will further enhance the resident experience while positioning the community for durable performance.”
CBRE helped facilitate the acquisition, which Sagard made in partnership with McCann Realty Partners and Pegasus Residential.