BlueGate is pleased to present The Gallery, a 378-unit apartment community situated upon 27.44 acres and located in South Cobb County, one of the most sought-after submarkets in Metro Atlanta. Built in 1984, the Property benefits from a superior location within an award-winning neighborhood redevelopment project along the I-75 N corridor, providing immediate connectivity to major employment hubs throughout the Atlanta MSA. The increasing scarcity and high land cost in South Cobb County has restricted multifamily development within the Cobb CID. The submarket is experiencing tremendous growth amidst a wealth of new public and private commercial development, highlighted by large scale infrastructure improvements and the accumulation of more than 10,000 new jobs.
The Gallery presents a prime opportunity to acquire a one-of-a-kind asset with tremendous value-add upside through the continuation of an interior renovation program. Only a fraction of the property is fully renovated with renovated units achieving significant premiums. Additionally, the property is located within a Qualified Opportunity Zone with an opportunity to build 10 additional units.