Philly Investor Buys Into Druid Hills Multifamily
Equus Capital Partners' $361M fund has purchased into the Druid Hills neighborhood.
Philadelphia-based Equus, through its Investment Partnership X fund, purchased Viera Briarcliff, a 500-unit garden-style apartment project off North Druid Hills Road, for an undisclosed sum. Equus officials did not disclose the seller of the property, but DeKalb County property appraisal records indicate an address attached to Nashville-based Covenant Capital Group.
According to Covenant's website, it purchased Viera Briarcliff in 2012.
The property's proximity to the Emory University area, Buckhead, Midtown and Downtown Atlanta were compelling reasons for Equus' investment, according to a press release.
“Viera Briarcliff further benefits from its close proximity to the brand new $1B pediatric hospital being developed by Children's Healthcare of Atlanta” at the corner of Interstate 85 and North Druid Hills Road, officials stated in an email. Equus plans to invest nearly $3M in exterior and interior apartment renovations.