Westmount Realty Capital buys first multifamily property in Atlanta

Westmount Realty Capital has purchased Walton Ashwood, a class A apartment community located at 1000 Ashwood Pkwy. in the employment district Central Perimeter, home to 33 million square feet of office space, 6 million square feet of retail space and more than 40,000 residents.

The 160-unit multifamily community in Dunwoody, a northern suburb of Atlanta, consists of one-, two- and three-bedroom units averaging 917 square feet. This is Westmount’s first multifamily property in Atlanta.

“Walton Ashwood offers a uniquely residential atmosphere in highly coveted Dunwoody, attracting affluent renters-by-choice who want in-town living in a neighborhood environment,” said Curtis Walker, Westmount’s managing director – multifamily acquisitions. “Its modern mid-rise construction, including nine-foot and 12-foot ceilings, will directly compete with newer, more luxurious options in the area. Our renovations will include new quartz countertops, modern cabinetry, lighting fixtures, gooseneck faucets, vinyl plank-style flooring, keyless entry locks and smart thermostats.”

Despite being built in 2008, the property, which will be rebranded as Westmount Ashwood, remains in 100 percent classic condition, a true rarity in today’s multifamily investment landscape. The property’s community amenities include a resort-style pool with water feature, an outdoor fireplace and seating area, summer kitchen with gas grill, state-of-art fitness center, elevators, dog walk access, valet trash pick-up, controlled access parking, on-site dry cleaning, and a complimentary coffee bar.

 

View the full Institutional Real Estate, Inc. story

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