Comunidad Partners and Nuveen Acquire 603-Unit Affordable Multifamily Asset in "the most diverse square mile in America"

 

Pamela West

CLARKSTON, GA — Comunidad Partners, a minority and women-owned real estate investment firm that specializes in workforce / affordable housing communities in culturally diverse neighborhoods, in partnership with global investment manager Nuveen, has acquired Village at the Creek, a 603-unit affordable and workforce housing community in Clarkston, Georgia in an off-market transaction.

 This acquisition represents Comunidad’s continued mission of bringing institutional capital to underserved markets with diverse populations across the sunbelt region of the U.S., according to Antonio Marquez, Comunidad’s Managing Partner.

 “This particular location within the Atlanta submarket is dubbed ‘the most diverse square mile in America’ as it is a melting pot of immigrants, migrants and refugees who have come to the U.S. seeking a better life,” explains Marquez.

 

Antonio Marquez

“This acquisition is closely aligned with our investment mission of creating culturally-relevant, inclusive communities that are tailored to the various ethnicities that live within the communities we serve and in markets that are poised for long-term economic growth.”

 This represents Comunidad’s fifth acquisition in the Atlanta market bringing its total holdings in the area to more than 1,566 units.

“The Atlanta market, including Clarkston, has undergone tremendous growth over the last several years yet is experiencing an affordable housing crisis along with a gap in resources and services that are needed to support residents that are critical to the local workforce,” says Marquez.

Village at the Creek, a 603-unit affordable
 and workforce housing community 
at 751 North Indian Creek Drive
 in Clarkston, GA

 According to Pamela West, Managing Director, Global Real Estate, Impact Investing at Nuveen, the firm’s focus on social and environmental impact was one of the major reasons they decided to partner with Comunidad.

 “We were extremely attracted to this community for several reasons,” says West. “First, it is located in an economically and culturally diverse neighborhood that is poised for continued growth.

 "Secondly, it is closely tied to our focus on impact from both a social programming standpoint and long-term preservation perspective. Comunidad has an exceptional track record and we are excited to be partnering with them in this shared mission.”

Contact:

Katie Haga

Brower Group

(949) 438-6262

khaga@brower-group.com

Home - Comunidad Partners.

www.nuveen.com.