Comunidad Partners Acquires 603-Unit MF Property in Clarkston
Comunidad Partners, in partnership with global investment manager Nuveen, has acquired Village at the Creek, a 603-unit affordable and workforce housing community in Clarkston. The sales price was not disclosed.
Village at the Creek is located at 751 N. Indian Creek Drive in Clarkston. Comunidad specializes in revitalizing affordable and workforce apartments in infill locations and implementing its cultural management platform, which includes cultural upgrades, community investment initiatives and social impact programs that aid in building a sense of community and improving resident lives. The acquisition is the company’s fifth in the Atlanta market, bringing its total holdings in the area to more than 1,566 units.
“The Atlanta market, including Clarkston, has undergone tremendous growth over the last several years yet is experiencing an affordable housing crisis along with a gap in resources and services that are needed to support residents that are critical to the local workforce,” said Antonio Marquez, managing partner at Comunidad. “We are thrilled to partner with Nuveen given there is significant mission alignment and impact commitment amongst our firms that we anticipate will translate into positively impacting this important community.”
Source: Connect CRE