Overview

The Ashcroft Value-Add Fund II (“AVAF2”) has entered into an agreement to purchase Retreat at Arc Way, a 284-unit property, off-market deal located in the Norcross submarket of Atlanta, Georgia. This acquisition marks the first for the AVAF2 and Ashcroft’s fifth property overall in Atlanta. The close proximity to employment hubs, highly rated schools, and one of the largest industrial corridors in the southeast, make Norcross one of the fastest growing submarkets in the Atlanta metropolitan. Rents increased by 22% and average occupancy in the submarket grew to 96.8% in 2021.1 These factors, along with projected population growth and average household incomes exceeding $62,000, position the Norcross multifamily market for growth.