Croatan Investments partners with Federal Capital Partners and Brightman-Gil Investment Management of Tel Aviv in a joint venture equity recapitalization of a three-property, 567-unit multifamily portfolio in Atlanta, GA consisting of The Clarion Apartments in Decatur, Gables Apartments in Peachtree City and Magnolia at Whitlock in Marietta.
Cushman & Wakefield’s Mike Ryan, Telly Fathaly, Jeff Walker, and Brian Linnihan represented the firm. The portfolio includes 567 units, with an average vintage of 1983. The Cushman & Wakefield team secured a mix of domestic and international private equity to complete the recapitalization of the assets. Federal Capital Partners of Chevy Chase, MD, provided equity for The Clarion and Magnolia at Whitlock and Brightman-Gil Investment Management of Tel Aviv provided equity for Gables Apartments.
“We received offers from several distinct capital partners for various portions of the portfolio,” said Ryan, Senior Managing Director in Cushman & Wakefield’s Equity, Debt & Structured Finance Group. “We worked with Croatan to assess the benefits of the individual and combined proposals and ultimately settled on a blended execution to maximize valuation, further the value-add business plan and satisfy Croatan’s strategic growth initiatives.”