Fairfield Acquires Chroma Park Apartments in Austell, GA

Acquisition Expands Fairfield's Scale in Atlanta Market

SAN DIEGO, CA – January 14, 2025 – Fairfield recently closed on the acquisition of Chroma Park Apartments, a 365-apartment housing community in Austell, GA. The property contains a mixture of one-, two-, and three-bedroom floor plans and offers residents the conveniences of a luxury community with upgraded finishes and amenities.

"We are excited to acquire another asset in Atlanta, especially in a high barrier to entry submarket with easy access to the area's top employment centers," said Senior Vice President and Director of East Coast Acquisitions Bill Revers. Chroma Park is located within one mile of Wellstar Cobb Medical Clinic, which has more than 3,000 employees and offers easy connectivity to greater Atlanta.

"This asset offers an ideal opportunity to complete a successful apartment renovation program, and fits very well with our acquisition parameters," Revers added. "The community is being purchased at a significant discount to replacement cost in an area with limited new supply."

Chroma Park is not only an attractive asset from an investment perspective, but the acquisition aligns with Fairfield's goal to provide better living for residents. The community offers modern apartment homes with durable wood-style flooring and beautiful finishes. The many thoughtful amenities include a free-standing community center with 24-hour fitness center, a pool, an outdoor kitchen, and lighted tennis and sport courts. The community also offers controlled access, private garages, two playgrounds, gazebos, picnic areas, and Amazon package lockers that are accessible 24 hours a day.

About Fairfield

Fairfield is an owner, developer, and operator of multifamily communities throughout the U.S. We own approximately 44,400 units nationwide across luxury new construction, renovated apartment homes, and tax credit affordable housing in urban and suburban neighborhoods. We offer an integrated national multifamily services platform providing development, construction, renovation, asset and property management, and acquisition and disposition services to our investors. Fairfield operates nationwide, with regional offices in Atlanta, Boston, Dallas, Denver, and Washington, D.C. Fairfield Realty Advisors LLC is registered as an investment adviser with the U.S. Securities and Exchange Commission.

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