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.

Single-family homes in the new Chimney Creek community begin in the $500,000s and include one-story ranches and two-story residences.

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.