Disrupt Equity announced its fourth acquisition of 2022, a 182-unit multifamily asset in a growing suburb of Atlanta, GA for $23,138,000. Meadow Crossing was the third and final asset to close from Disrupt Equity’s Sunbelt Diversified Apartment Portfolio.
Meadow Crossing was built in 1984 and features 182 two-bedroom units. Current ownership has invested in exterior renovations, including exterior paint and roof replacement, allowing new ownership to bring interiors and amenities more in line with market comps and capture more robust rents.
The Meadow Crossing community offers a variety of resident amenities, including a clubhouse, playground, laundry facilities, pool, and sports court.
The asset is centrally located and appeals to those who desire high-quality suburban living while maintaining excellent connectivity to a powerhouse of economic centers, including Downtown Atlanta, Midtown, Clifton Medical Corridor, and Hartsfield-Jackson Atlanta. The apartment community is strategically positioned near three mega-developments, Rivian Automotive Campus, Meta Newton Data Center, and Takeda Bioscience Facility providing a $10B catalyst for growth along I-20 with the creation of over 10K+ jobs.
The Meadow Crossing submarket is experiencing strong demand for multifamily housing, with annual effective rent growth at 21.3% in the past three years. This growth does not plan to slow down anytime soon, with projections anticipated to hit an additional growth of 21.2% by 2024.
The asset will be managed by First Communities, a multifamily property management firm that currently manages over 50,000+ units.