DOUGLASVILLE, GA - Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of One Rocky Ridge, a 300-unit multifamily community located in Douglasville, Ga.
Developed in 2003, One Rocky Ridge offers one, two and three-bedroom apartment units with monthly rental rates ranging from $950 to $1,400. The newly acquired property is 95% occupied and managed by Fogelman. One Rocky Ridge will undergo extensive community upgrades, including renovations to all in-unit kitchens, living rooms and bathrooms, as well as overall community enhancements across the common area amenities.
Fogelman acquired One Rocky Ridge through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 34 multifamily communities totaling more than 11,000 apartment homes, with an aggregate value of more than $1.5 billion. Since the beginning of 2020, Fogelman and DRA Advisors have completed $160 million in investments and have a current joint venture holding totaling more than 4,600 apartment homes.