ATLANTA, GA – S2 Capital announced it has bought a four-property portfolio in the Atlanta metro area. The portfolio totals 1,406 units across four mid-1980s assets and includes Cornerstone Apartment Homes, Pointe at Norcross, Sonoma Ridge Apartment Homes, and Woodland Ridge Apartments. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not told.
Over the next two years, S2 expects to spend approximately $5 million per property, or over $20 million, in renovations. Unit interiors will be updated and will feature stainless steel appliances, hard-surface countertops, undermount sinks, kitchen backsplash, vinyl flooring, hardware, light fixtures, and ceramic shower tile. Plotted upgrades for exterior spaces are property-specific, and are expected to include enhanced amenity spaces, leasing offices, clubhouses, swimming pool, landscaping, balcony enclosures, monuments, and signage.
Located at 2100 Winters Park Drive in Atlanta, Cornerstone Apartment Homes is a 344-unit, two-tale garden style apartment complex featuring one-and two-bedroom units. Sonoma Ridge Apartment Homes, located at 4659 Dawson Boulevard in Atlanta, offers one-, two-, and three-bedroom units in a two-tale garden style apartment community with 440 units. Pointe at Norcross, at 3600 Park Colony Drive in the submarket of Norcross, is a 320-unit two-tale garden style apartment complex featuring one-and two-bedroom units. Woodland Ridge Apartments, at 1355 Indian Trail Lilburn Road NW in Norcross, offers one-and two-bedroom units in a two-tale garden style apartment community with 302 units. All four assets are within a few minutes’ drive of Buckhead, the Central Perimeter, Midtown, and the I-85 Industrial Corridor, in close proximity to a large variety of industries and jobs.
“The Atlanta area is a fantastic fit for our value-add strategy targeting workforce housing, particularly in the Northlake/Norcross submarket where nearly 40% of residents are renters,” said Davey Leach, VP of Acquisitions at S2. “Atlanta has posted record demand and rent growth figures over the past few quarters, and these submarkets are enjoying 98% or higher occupancy rates. The opportunity to renovate four properties in the same submarket to a similar standard leads to immediate economies of scale that will benefit our tenants as well as our investors.”

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NASHVILLE, TN – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 264-unit Kirkwood Place in Clarksville, Tennessee. The Kirkland Company represented the seller on this transaction. This represents HZ’s ninth acquisition in Tennessee and first in the Clarksville metro.
The property, built in 2020, is located 9.8 miles from Downtown Clarksville and 45 miles from Downtown Nashville. Hamilton Zanze bought this property off-market through a local broker relationship.
“We are excited to expand our presence in Tennessee with the buy of Kirkwood Place in Clarksville, TN,” said David Nelson, Hamilton Zanze’s chief transactions officer. “The brand-new asset features favorable amenities, convenient location to near employers, and close proximity to an abundance of retail and entertainment in Downtown Clarksville.”
The community is located at 2934 Dunlop Lane in the Clarksville-Hopkinsville metro area. The 264 units average 1,021 square feet with five different floor plans. Community amenities include an outdoor lounge and grill area, resort-style pool, pet spa and park, and social game room with billiards tables and TVs. Unit amenities include gourmet kitchens with stainless steel appliances, in-unit washer and dryer, private balconies and patios, wood vinyl plank flooring, and quartz countertops.
HZ’s capital improvements will include site improvements, building repairs, amenity improvements, and mechanical, electrical, and plumbing improvements. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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NEW YORK, NY – Walker & Dunlop, Inc. announced that it has arranged $70,000,000 in permanent financing for 21 West Street in New York, New York. The 33-tale tower includes 293 carefully designed studio, one-, two-, and three-bedroom apartments. Located in the Financial District of Manhattan, the property is proximate to the offices of major financial firms, including Goldman Sachs and American Express.
Jonathan Schwartz, Adam Schwartz, Aaron Appel, Keith Kurland, Michael Ianno, and Triston Stegall led the Walker & Dunlop team in arranging the financing for Rose Associates, a repeat client. Based in New York, Rose Associates is a leading multifamily and mixed-use real estate developer and operator that has overseen the successful residential and retail leasing at the property for nearly 30 years. The 12-year loan, provided by MetLife features an attractive fixed rate and interest-only payments for the entire term, which will ensure continued operating performance for years to come. The Rose Associates team was led by Marc Ehrlich, Chief Investment Officer and Michele Bengelsdorf, Head of Asset Management.
“Though the New York City rental market experienced headwinds during the COVID-19 pandemic, the market has successfully absorbed more than 60,000 new units that were delivered over the past four years. With vacancies at near record lows, this lending opportunity was very attractive to the capital markets,” said Walker & Dunlop’s Jonathan Schwartz.
21 West Street blends modern convenience and a classic landmark style with luxurious residences. The property’s amenity offerings include a roof deck, fitness center, resident lounge, and children’s playroom. With brilliant transit access, residents delight in convenient access to the rest of Manhattan as well as to Brooklyn, Queens, and New Jersey. New retail offerings, including West of Broadway, Brookfield Place, and Westfield’s World Trade Center mall dramatically increase area residents’ shopping and dining options.

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