Branch Properties begins next phase of apartment complex

Real estate developer Branch Properties, LLC, and general contractor Summit Contracting Group, Inc., have begun the third phase of a mixed-use residential development on 50 acres in northwest metro Atlanta.

“West Village is a vibrant, master-planned community being developed to serve the burgeoning rental market in affluent Cobb County,” said Jack Haylett, Senior Vice President of Branch Properties. “We continue to remain active on the multifamily front in communities where there is strong demand for thoughtful development and quality construction.”

Phase III of West Village, located in Cobb County, Ga., a bedroom community northwest of Atlanta, will include 313 apartments and 470 parking spaces on nine acres. The apartments will range in size from 660-square-foot studios to 1,484-square-foot, three-bedroom, two-bath apartments. Branch Properties is the owner and developer, and Summit Contracting Group is the general contractor.

West Village has succeeded in large part due to Cobb County’s thriving economy and 10.8% population growth since 2010. Branch Properties assembled the 50-acre site in 2005, developing 292 Class A multifamily units and 68,000 square feet of retail in the first phase of construction.

Branch Properties completed the second phase of West Village in 2011, adding another 188 apartments, before selling to MidAmerica Apartment Communities in 2014. West Village received a “Development of Excellence” Award from the Atlanta Regional Commission in 2007.

Amenities will include a 3,000-square-foot public library, as well as a fitness center, dog park, pool and courtyard for residents. Construction is expected to be complete in early 2021 with the first group of apartment units coming on the market in Spring 2020.

Branch Properties Acquires Two Grocery-Anchored Shopping Centers for $57 Million

Roswell, Ga. and Leland, N.C. — Branch Properties has acquired two grocery-anchored shopping centers in the Southeast. The first, Roswell Market Place, is a 95,522-square-foot shopping center anchored by Sprouts Farmers Market. Branch Properties bought the asset for $32 million. The center, which is located at 10800 Alpharetta Highway, 24 miles north of downtown Atlanta, was built in 1986 and renovated two years ago. Roswell Market Place was 88 percent leased at the time of the sale.     

 The second property is Waterford Village, a 108,249-square-foot shopping center anchored by Harris Teeter that was purchased for $25 million. Waterford Village sits on 15.8 acres at 2013 Olde Waterford Way in Leland, North Carolina, nine miles west of downtown Wilmington. The asset was 90 percent leased at the time of the sale.