Pollack Shores Investing In Alpharetta Apartments
Atlanta-based Pollack Shores is returning to play in the North Fulton County apartment market.
The company has purchased AMLI Northwinds, an 800-unit apartment community just south of the Avalon mixed-use project off Georgia 400, it announced this week.
Terms of the deal were undisclosed, but Pollack Shores intends to pump some $13M into the property to upgrade amenities — including new appliances, countertops and light fixtures — and rename the property Avery at Northwinds.
“Our planned capital improvements will drive significant revenue growth and create a dynamic community that appeals to renters in search of an urban, live-work-play experience within a suburban market,” Pollack Shores CEO Steven Shores stated in a release. Earlier this year, Pollack Shores sold its Echo at North Point apartment project for more than $20M.
This has been an active year for Pollack Shores. The developer, headquartered in Central Perimeter, is underway with razing Roswell Exchange Shopping Center along Alpharetta Highway to develop a 300-unit apartment mixed-use project in a joint venture with Fuqua Development.
As Bisnow first reported, the company also is in talks to sell its Home at The Battery Atlanta apartment complexes — part of the SunTrust Park mixed-use project where the Atlanta Braves play their home games — to Cortland Partners.