Sentinel Real Estate Corp. has acquired two multifamily communities in the Atlanta and Philadelphia metros in separate transactions. The purchase of The Juncture Apartments, a 560-unit garden-style community in Alpharetta, Georgia, and The Airdrie at Paoli Station, a 154-unit mid-rise community in Paoli, Pennsylvania, has enabled the New York City-based real estate investment management firm to acquire newer vintage and stabilized communities at an attractive basis in high-growth markets, according to the company.
“Apartment communities of this caliber are in high demand in both of these markets given the strong employment fundamentals and high barriers of entry for homeownership,” said president Michael Streicker. “What also made these investments so attractive is that there are no comparable apartment communities under development within 3 miles of either property, which we expect will support continued strong performance.”
Throughout the firm’s 53-year history, Sentinel has been active in both metros, having owned and operated 46 multifamily assets with more than 12,000 units.
The Juncture Apartments, located 30 miles northeast of downtown Atlanta, is in a desirable suburb within the Forsyth County submarket and is close to a growing tech employment hub.
Completed in 2017, the 16-building community is comprised of one- and two-bedroom units averaging 1,025 square feet. Units include stainless steel appliances, granite and quartz countertops, hardwood-style plank flooring, walk-in closets, washers and dryers, and private balconies or patios. In addition, select units feature additional storage, built-in wine racks, bookshelves, and desks. Amenities include a resort-style pool, grilling stations, an outdoor lounge with a fireplace and a television, an outdoor fire pit with entertaining space, a clubroom, a fitness center, a dog park, a coffee bar, and a business center.
The Airdrie at Paoli Station is located in one of Philadelphia’s most affluent suburbs in Upper Chester County, close to the headquarters of major employers like Vanguard Group, Siemens Medical Solutions, and Saint-Gobain.
Constructed in 2020, the community is comprised of one- and two-bedroom units averaging 978 square feet. Units include quartz countertops, stainless steel appliances, tile backsplashes, kitchen islands, ceramic tile baths, washers and dryers, walk-in closets, private balconies and patios, and keyless entry. Amenities feature a clubhouse, a coffee bar, a conference room, a media room, a 24-hour fitness center, a swimming pool, a pet station, on-site storage, and package lockers.
