One of the two parcels comprising the 340-acre tract is zoned for up to 480 homes. 

When completed, the refurbished property will add almost 50 micro and one-bedroom units with modern amenities to the Midtown market.

The build-to-rent communities are located in Dallas, Decatur and Winder and will be delivered over the next year.

The community is located on the corner of Eastland Road and Lake Drive and abuts Glen Emerald Park, which includes 28 mostly wooded acres surrounding a lake.

The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.

The Geneva-based investment and wealth-management firm rebranded the asset, which is located at 1000 Ashwood Parkway, as Westmount Ashwood.

The 396-unit Crest at Riverside multifamily community is located at 100 Chattahoochee Circle.

Work on the 19-acre development is scheduled to begin later this month and will soon be followed by the construction of other suburban, Sunbelt communities.

The homebuilder, Traton Homes of Marietta, originally sought to build 145 townhomes on a 25-acre parcel at the southern end of South Cobb High School Road.

The investor has been active in the Atlanta-area multifamily market. The latest transaction marks the firm’s 15th acquisition of a multifamily asset in Georgia.

The financing will be used by an affiliate of Lincoln Avenue Capital to acquire the historic loft property and preserve its 201 units of affordable housing.

Last October, the Douglasville City Council approved the rezoning of 83.3 acres near the intersection of Prestley Mill Road and Timber Ridge Road to allow for the subdivision, which will be called Somerset at Timber Ridge.

The sale of the communities follows the investor’s December 2021 announcement that it would break ground on a community in Conyers later this month.

Atlanta-based ECI Group is developing the class-A community, which will provide the first new apartments in Conyers in 20 years.

The off-market transaction was facilitated by Berkadia, which secured $17.5 million of equity capital from MLG Capital on behalf of the investor, One Real Estate Investment.

The 1.26-acre property is an assemblage of several parcels on the east side of Howell Mill Road between 9th and 10th streets northwest.