LUXURY TWO-STORY Apartments
In the first half of 2019, Penler rezoned a 40-acre tract featuring a stream and hillside adjacent to over 1 million square feet of retail in the heart of the Dawson County retail district north of Atlanta. The re-zoning allowed for a 240-unit rental community and related amenities. In November of 2019, Penler purchased the property and immediately started construction.
The luxury apartment community’s two-story townhome design welcomed first residents in early 2021 with final completion in July of 2021.
The property offers a 1-acre “grand lawn,” and a 6,000-square-foot clubhouse with an expansive pool deck, fitness center, lounge, and leasing center. Unit features include direct entry, quartz countertops, luxury stainless appliances, vinyl plank flooring and high-end lighting and plumbing fixtures.
On September 1st 2021 Penler sold The Parker realizing a project multiple of 2.84 and IRR of 102.3%. Penler remains invested in the asset alongside the new ownership group.