DeVanDylan Capital Partners LLC, a multifamily investor and operator focused on assets in the southeast region, has acquired the Willow Park Apartments complex in Forest Park, Ga., for $10.3 million.
Located at 1466 Rockcut Road, the complex is comprised of 108 units in 14 buildings on approximately 10 acres of property south of Atlanta. Steve Morrows, DVD’s founder and chief executive officer, says DVD will invest in an exterior renovation, including roof, façade and parking lot replacement, interior renovations, upgraded security systems and community amenities. In addition, DVD will tap Strategic Management Partners for property management.
“In the case of Willow Park, we are starting with a class-C property, with quality construction in an excellent location and transforming the complex into a solid class-B property,” comments Morrows.