South Fulton Welcomes New Ownership for Apartments
Exciting changes are coming to South Fulton, Atlanta! The Villas at Princeton Lakes, a cozy apartment community, has officially changed hands. The real estate firm FCP recently announced the sale of this charming complex to Monday Properties and RSN Property Group for an impressive $36.75 million. The new owners are gearing up for their own take on what makes this community special!
A Little Background on the Villas
Located at 751 Fairburn Road SW and built in 2004, the Villas at Princeton Lakes offers 210 units featuring one-, two-, and three-bedroom layouts. Each unit comes with private patios and plenty of extra storage, making them perfect for residents looking for a little more space and comfort in their lives.
FCP originally acquired the property in the last quarter of 2020 for $30 million. In that deal, they took over the existing loan during a discreet off-market transaction which was quietly mentioned in their announcement. It’s clear that FCP has invested a lot of love and hard work into this property, leading to a successful sales outcome.
FCP’s Commitment to Community
In a statement reflecting on the sale, FCP’s Di Aeschliman said, “FCP is very pleased with the execution of our business plan at Villas at Princeton Lakes.” They highlighted the substantial upgrades made to the common areas and building exteriors that successfully repositioned the property in a market that greatly needs quality workforce housing options.
Atlanta has been booming lately, and FCP is definitely eyeing more investments in the area, given its strong economic growth and diverse job market fueling housing demand. This shows just how much potential the area holds!
Who Are the New Owners?
Now let’s turn our attention to the new owners! Monday Properties hails from New York and focuses on a variety of mixed-use properties, owning, operating, developing, and investing in everything real estate-related. They view their acquisition of the Villas at Princeton Lakes as a significant step in their ongoing expansion efforts. Talk about ambition!
Next up is RSN Property Group, which operates from sunny Southern California. They’re known for their savvy investments and commitment to enhancing the communities they’re part of. Their involvement with this project could mean exciting developments in the future!
A Bright Future Ahead
As the new owners prepare to step into their roles, residents and potential renters alike are keen to see what changes and improvements might be on the horizon. With the rising demand for well-kept and affordable housing options in the South Fulton area, it seems like the Villas at Princeton Lakes is positioned beautifully for a fruitful future.
If you’re in the neighborhood or thinking about making a move, keep an eye on this community! The Villas at Princeton Lakes could soon be your next favorite place to call home. As always, if you’ve got news of something opening or closing in your area, don’t hesitate to reach out. Local updates keep us all in the loop!
In conclusion, change is afoot, and it’s all looking very positive for South Fulton’s apartment community. Here’s to new beginnings and exciting developments that surely await everyone involved!
