Charleston, S.C.-based Blaze Capital Partners and Wayne, Pa.-based Argosy Real Estate Partners recently acquired the property, which is located at 450 Technology Parkway NW in Atlanta TechPark.

The proposal calls for the construction of a 163-apartment mixed-use development on 6.9 wooded acres at the northeast corner of South Cobb Drive and Oakdale Road in Smyrna.

The other components of phase one of The Works include 160,000 square feet of retail space and 125,000 square feet of offices.

The property, located at 1851 Satellite Blvd., is a 2011 institutional -quality asset that enjoys an exceptional location, great amenity package and an interior-renovation opportunity, the purchasers said.

The acquisitions of the northeast Atlanta properties come on the heels of other recent multimillion-dollar deals for multifamily communities by local and out-of-state investors.

The properties represent the 12th and 13th communities Bell Partners manages in the Atlanta area and its second and third acquisitions in Atlanta this year.

Floorplans of the rental units, which go for $1,600 for a one-bedroom residence to $2,100 for a two-bedroom apartment, feature high-end designer finishes and features.

According to Engel & Völkers Atlanta, the residence at 40 West 12th sold for $2.8 million or more than $1,000 per square foot — $200,000 over the asking price.

Priced from the mid-$400,000s, the properties include three floor plans from Artisan’s Estate Series of single-family homes.

SR Homes recently opened the Rosewood model home at Stonewood, its new Watkinsville single-family home community. Homes are priced from the $500,000s and are available with ranch and traditional two-story design options. Home sizes range from 2,832 to 4,067

The Stone Crest Estate new-construction neighborhood is located in Fairburn and offers one- and two-story homes.

Poplar Place in Dallas is a gated community and will offer 135 home sites priced from the $310,000s to the $400,000s.

RESICAP and Rockpoint Group plan to build on their existing single-family rental and build-to-rent partnerships that have thousands of rental homes in operation or under development throughout the Southeast.

The development, Continuum Alpharetta, would add 82 for-sale condominiums, 488 apartments, a 218-room boutique hotel, 77,600 square feet of commercial and retail space and 1,028,500 square feet of office space.

If developed, the tower would be the second-tallest in Atlanta by floor count, standing below the Westin Peachtree Plaza Hotel, at 73 stories, and above SunTrust Plaza, at 60 stories.

Over the last year, Atlanta’s for-sale housing inventory has fallen to 9,450 homes from 13,196.