A 400-unit apartment community in Dunwoody has sold for a hefty price.
California-based Passco Companies acquired Two Blocks for $72 million, according to a press release.
This is the fourth Atlanta-area acquisition for Passco, which plans to change the property by modernizing amenities and implementing upgrades.
The real estate investment firm says it will install granite counter-tops in the kitchens and bathrooms, expand and update the fitness center and improve "the property’s curb appeal starting with an exterior paint job."
Two Blocks, located at 4000 Dunwoody Park, was developed in 2008 by Atlanta-based Pollack Shores Real Estate Group.
Colin Gillis, Passco Companies Vice President of Acquisitions, Southeast, said the property is a rare find in a location "that provides quality demographics, a highly educated workforce, and immediate access to a variety of extremely deep and dynamic employment hubs.”
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