A joint venture between two Miami-based firms, Atlantic Pacific Companies (A|P) and Highline Real Estate Capital, recently purchased Arcadia Decatur Apartments, a 101-unit complex in Decatur, a small city in the Atlanta metro area.  

Located at 220 North Arcadia Ave. in Decatur, the low-rise property offers a mix of one- and two-bedroom floor plans ranging from 684 to 1,314 square feet. Arcadia is near several of Atlanta’s largest employers, including the Centers for Disease Control, Emory Healthcare and Emory University. It’s also a short walk from Decatur’s downtown area.  

The acquisition marks A|P’s 18th Georgia property and brings its apartment count in the state to over 4,300 units. A|P will handle property management. The complex is Highline’s first multifamily asset in Atlanta, where it owns three open-air shopping centers. Community amenities include a pool, fitness center, resident clubhouse and dog-wash room. 

“This investment supports our strategy of acquiring newly built apartment communities at significant discounts to replacement costs in high growth Southeast markets,” Highline Principal Matt Papunen said. 

“Arcadia Decatur is an exceptionally well-located property in one of metro-Atlanta’s premier cities that offers residents unparalleled access to jobs, schools and entertainment,” A|P Chief Investment Officer Greg Ward said in a press release. “This property is another great addition to our growing Georgia portfolio and furthers our strategy of buying exceptional properties in growing markets at compelling prices.”