COLLEGE PARK, GA – A partnership between Auerbach Funds and Dunross Capital has recently bought “The Life at Avery Park”, a 290,000 square foot, 220-unit townhouse complex in in College Park, GA.
Located at 2609 Charlestown Drive, The Life at Avery Park consists solely of townhome style units that will undergo a renovation to “platinum” level quality units. The partnership also plans to improve the existing amenities including the clubhouse, outdoor walking track, new windows and doors, improved landscaping, and enhancements to the common areas.
The multifamily townhouse style property is located just minutes from downtown Atlanta, with nearby access to I-285, I-85, and the Metrorail. The College Park area is Atlanta’s fasting growing submarket, conveniently located just minutes from the Hartsfield Jackson Airport, which employs approximately 63,000 people, making the area one of the largest employment districts in Georgia.
Peter Auerbach, Founder and Managing Partner of Auerbach Funds, stated, “We have a lot of conviction investing in the rapidly growing submarket of College Park which is bolstered by an established city like Atlanta. This acquisition will strengthen our portfolio of value-add assets and expand our footprint in the Atlanta market, a leading area for job growth and a rapidly growing hub for technology. We look forward to our partnership with Michael Crow and his team at Dunross Capital to deliver an improved product and experience for our tenants, while also providing strong returns for our investment partners”.
Commenting on the acquisition, Michael Crow, CEO of Dunross Capital, said “We are excited about this property of 220 gorgeous townhomes next to the billion-dollar expansion near the Airport. We were able to work with the seller and broker during COVID and still get the deal done. Our equity partner Auerbach Funds, and Peter and his team were fantastic to work with. We look forward to more acquisitions together.”
This marks the first acquisition since Auerbach Funds announced its first close for Auerbach Opportunity Fund III in mid-October. The fund has a target size of $100 million and is currently open to new investors.

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ATLANTA, GA – Crown Bay Group LLC, along with its partners Acorn Property Group LLC, and Iron Street Capital LLC, announced its acquisition of FortyThree 75 Apartments in Southwest Atlanta. Crown Bay and Acorn Property Group also recently bought Pines of Southlake in South Atlanta.
FortyThree 75 Apartments is a 260-unit community, built in 1974, consisting of 1, 2- & 3- bedroom floor plans in a gorgeous residential setting. The property is located along Cascade Road and is just two miles east of Fulton Industrial District – the largest industrial corridor in the Eastern United States. A recently completed Walmart Supercenter, Starbucks, Chick-fil-A, Home Depot, and a Publix-anchored shopping center are all located at the Cascade Road/I-285 interchange, only 1.5 miles from the property. Amenities include a swimming pool, clubhouse, fitness center, dog park, playground, and a MARTA bus stop on site. Crown Bay plans to continue upgrading unit interiors as they come available.
Pines of Southlake is a 93-unit community, built in 1972, consisting of all 2- and 3-bedroom floorplans, located along Mt Zion Rd in Morrow. The property is adjacent to Tara Elementary School, is in walking distance to Southlake Mall, and is near Morrow’s primary retail corridor.
Both properties will be operated by Crown Bay’s property management arm, Crown Bay Management, which brings its expertise in implementing operational efficiencies and fostering excellent tenant relations. Crown Bay currently operates other properties nearby.
“We are taking a cautious yet opportunistic approach to investing, given the current market conditions caused by the COVID-19 pandemic. Assuming we can buy a property at a risk- adjusted discount to pre-COVID-19 pricing, we believe this is an attractive time to invest in this asset class,” says Steve Firestone, CEO of Crown Bay Group.
“We still reckon the Atlanta market is one of the hottest places to be investing in, with all the business development making continued job and population growth,” says Firestone. “We will be looking for further acquisitions which may also include some commercial assets, with the goal of making fantastic investment vehicles for us and our investment partners.”

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DALLAS, TX – Silverado / Noel Partners announced the acquisition of Station 3700, a 321-unit, luxury apartment community in Euless, Texas between Dallas and Fort Worth. The property, completed in 2000 and recently renovated in 2015, was bought for a total cost of 45.5 million-dollars. Station 3700 is comprised of multiple three-tale buildings, which were built inside of a gated community setting with high-end amenities and a convenient location in mind.
Station 3700 offers six distinct floor plans with an impressive selection of one, two, and three-bedroom apartments. Residents can currently delight in a generous suite of amenities, such as large closets, plush carpeting, and a private patio or balcony. Certain homes also include garden jacuzzi tubs, built-in computer desks and bookshelves, and crown molding. Every apartment is designed to allow one s personal style to shine through with fashionable touches and customizable options that set the gold standard of contemporary apartment living.
The gated community also boasts two sparkling swimming pools, fitness and business centers, a clubhouse with a cybercafé, and an outdoor covered patio area with views of the community s lush, green grounds. Residents can take advantage of many other perks, like package receiving, small term leasing, close proximity to the TRE Station, and even a Spanish speaking staff. Through all of these features and services, Station 3700 works diligently to take special care of resident needs with sophisticated luxury and modern style that go hand-in-hand.
“We are excited to expand our footprint with the acquisition of Station 3700. This highly attractive area in a prime market provides our residents with unparalleled accessibility to major employers, retailers, nationally ranked schools, key regional suburbs, and of course, the DFW Metro Area at-large. We are very enthusiastic about the plotted improvements to the community and projected return on our investment, stated Lenny Licht, Managing Partner for Silverado / Noel Partners.
The community will be managed by Noel Management Company, which has come to be synonymous with smart acquisitions with stringent criteria that ensure the success of their partners and clients. The community will undergo an extensive renovation throughout the entire grounds. Although plotted upgrades haven t been officially released, the community intends to address the exterior building, individual apartment homes, and community-wide amenity spaces.
Stephanie Allen, Vice President of Operations for Noel Management Company, stated, Station 3700 takes pride in its central location and seamless access to brilliant schools, renowned restaurants, and convenient shopping. As a pet-friendly community, we re also excited about our plotted installation of two dog parks to accommodate our residents furry friends. Along with an brilliant location and desirable offerings, the spacious units, top-notch amenities, and thoughtful features make Station 3700 well-suited for today’s home-centered lifestyle.”
Forming one of the Mid-Cities of the Dallas/Fort Worth Metropolitan Area, Euless is a suburb of Fort Worth, which lies approximately 20 miles to the west of the city. Known as Tree City USA, the citizens of Euless are proud to call its peaceful setting and many family-friendly neighborhoods home. The Stonewood/Stonecreek neighborhood, where you ll find Station 3700 specifically, is a fine example of the type of living found in Euless, Texas. With an attractive location that gives residents the best of both worlds, Station 3700 has undoubtedly become a rising star on the DFW multifamily real estate horizon.

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