Hudson Capital Properties (HCP), a multifamily real estate investment and development firm focused on value-added acquisitions in Southeastern US markets, today announced the $49 million acquisition of Northridge Vista, a new 220-unit residential community located in Sandy Springs, GA.
“The Sandy Springs area has experienced strong and steady population growth over the past decade, making the acquisition of Northridge a terrific, long-term hold investment opportunity,” said Robert B. Cohen, II, Chief Investment Officer of HCP. “The community, which was built last year utilizing a rare wood frame construction process, is poised to benefit from the anticipated continued strong business presence in the market.”
Northridge Vista offers high-end homes to residents with outstanding access to both GA-400 and Roswell Road, the North Springs MARTA train station and downtown Roswell nightlife, as well as the Buckhead, Perimeter Center and Alpharetta office corridors. The community is also a 10-minute drive from City Walk Sandy Springs and in close proximity to Chattahoochee Nature Center and several walking trails. The area boasts solid demographics and continued employment growth due to several major corporate expansions and relocations, including Mercedes Benz and State Farm Insurance. The Sandy Springs/Dunwoody submarket also has a high share of college educated households, with incomes exceeding the Atlanta metro average.
HCP targets assets that deliver immediate value through improved cash flow by seeking properties valued at or below their replacement cost, with attractive stabilized yields, and have the potential to add value through capital improvements. The firm and its principals invest considerable equity capital into its transactions and take a true owner-operator’s view of the strategy and timeline for each investment. HCP’s target markets have high barriers-to-entry and supply constraints with regard to properties located in established neighborhoods, CBDs and in educational and medical centers and often in state capitals. HCP is an expert at sourcing deals, frequently transacting with capital constrained sellers that have completed some phases of value add, and with sponsor groups seeking early exit following a quick uptick in value.
About Hudson Capital Partners
Founded in 2009, Hudson Capital Properties (HCP) is a multifamily real estate investment and development company. Through its affiliated companies, Hudson Capital acquires, owns, and operates a portfolio of multifamily properties in the Southeastern United States that currently comprises over 6,500 units, and is currently constructing more than 500 apartment units just outside of Manhattan. Led by industry leaders James S. Cohen, Frank Huttle III and Robert B. Cohen II, the HCP team has developed a track record of value creation through the acquisition, development, and management of multifamily properties. With in-house expertise in development, construction, asset management and finance, HCP has proven its ability to source opportunities, close transactions quickly and efficiently manage and perform large scale improvements on its properties.
