Barings Acquires Skye Suwanee Town Center
Apr 12, 2021
Executes on Ascending Markets Strategy with Atlanta Multifamily Acquisition
Barings, one of the world’s leading financial services firms, announced today it has acquired a new development, Skye Suwanee Town Center, a 233 unit Class A apartment asset in a master-planned, mixed-use community in a desirable suburb of Atlanta.
The project consists of three residential buildings featuring top of the line unit finishes and a suite of generous amenities including a resort-style pool, rooftop sky lounge, two club rooms, gaming center, two-story fitness center including studio and spin facilities, pet spa, dog park, co-working space, bike maintenance center, wine room, and on-site courtesy officers. This highly-amenitized project is part of Suwanee Town Center, a vibrant walkable community, consisting of multiple parks, an amphitheater stage, public library, and array of restaurants and boutiques. The project is adjacent to Suwanee Creek Greenway, which includes miles of woods and wildlife habitat and is districted to a desirable school system.
“Barings continues to favor specific multifamily opportunities and Skye Suwanee Town Center is an excellent example of Barings’ apartment strategy” said Chris Berry, Portfolio Manager for Barings U.S. Real Estate. “We are seeking new assets with lease-up potential in vibrant suburban centers where we can utilize our platform’s sector specialist asset management team to unlock additional value for our investors. We believe the firm’s active management approach and targeted focus has translated to our successful apartment track record, and we look to continue this execution with Skye Suwanee Town Center.”
“We view Atlanta as one of the growth engines in the South East. It has proven to be an outperformer and we believe it will continue to be an outperformer. It not only has one of the most diverse economies, but also continues to demonstrate momentum, regaining its pandemic job losses fastest of the top 25 largest metro cities in the country.” said Elena Walsh, Barings Managing Director and Acquisition Officer for the South East U.S.
The property has achieved a National Green Building Standard (NGBS) bronze certification due to the project’s resource, energy and water efficiency, and indoor environmental quality; Barings intends to pursue LEED certification when applicable. Barings believes the asset’s sustainability characteristics will be attractive to both tenants and future capital markets.
Barings is a $345 billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.
*Assets under management as of December 31, 2020
300 South Tryon Street
Charlotte, NC 28202