ALPHARETTA, Ga. — Northland, a private equity investor based in Newton, Mass., has purchased Emblem Alpharetta, a 210-unit active adult community in the north Atlanta suburb of Alpharetta.
Situated on seven acres, the property was fully occupied at the time of sale and represents the fourth Georgia acquisition for Northland this year, but the first active adult acquisition in its portfolio. The seller and price were not disclosed.
Emblem Alpharetta comprises one- and two-bedroom apartments in a four-story building that centers around a resort-style pool and sundeck. Units are reserved for households age 55 and older. Amenities include a fitness center, bocce ball court and outdoor entertaining spaces.
Northland plans to invest $3 million in capital improvements at Emblem Alpharetta over the next four years.
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