VALUE-ADD MULTIFAMILY CASE STUDY
Year built: 1985
Average unit size: 852 SF
Location: Duluth, Georgia
Submarket: North Gwinnett
Phase I: Acquired October 2018
Phase II: Acquired September 2022
The Eclipse is located in Atlanta’s northeast premier expansion market of Gwinnett County, one of the fastest growing counties in the U.S. It sits within Duluth’s Gwinnett Place Community Improvement District and retail destination center. The apartment community is surrounded by award-winning schools and high-end residential neighborhoods.
When Phase I ownership took over this project in October 2018, the asset was not positioned to a high standard in relation to nearby competitors. As the Asset Manager, IMG oversaw the property's value-add program which included new exterior paint and landscaping improvements. The cohesive, modern brand and "luxury-value" community continues to appeal to renters in this fast-growing Atlanta Metro neighborhood. Phase I owners invested over $1 million from October 2018 to September 2022 on renovating community amenities and unit interiors.