Aragon Holdings acquired three properties in Atlanta and Denver for $100 million. The acquisitions include Holland Park, a 496-unit apartment property in Lawrenceville, Ga., Azalea Springs, a 232-unit property in Marietta, Ga., and Hampden Heights, a 376-unit property in Denver.
All three assets are located in areas with strong employment statistics.
Aragon Holdings deployed approximately half of its $52 million Aragon Multi-Family Cash Flow Fund II private equity fund to pay for the properties. Freddie Mac provided the balance of the purchase price.
“We continue to identify attractive acquisition opportunities that will enable us to commit the remaining portion of Fund II, and we have already been approached by investors and institutions asking us to form a Fund II,” said Aragon Holdings President Larry Clark in a statement.