Roughly two months after acquiring Riverside Estates in Covington, Ga., Forrest Street Partners has expanded its Atlanta-area portfolio with the purchase of Dogwood Blossom in Douglasville, Ga. The 78-site manufactured housing property is the second purchase in the state for the company.
Located at 4021 Anneewakee Road, Dogwood Blossom is some 3 miles from dining and retail choices and less than 23 miles from downtown Atlanta. The short commute to the metro makes Douglasville a perfect option for affordable housing. In addition, Douglas County experienced a more than 10 percent growth in the past decade, attracting major tech employers such as Amazon, Google and Microsoft.
Forrest Street Partners already implemented new management practices, streamlining rent collection and reaffirming property rules and regulations. The new owner intends to infill 50 vacant lots with three-bedroom and one-bedroom homes. Furthermore, the company plans several improvements such as upgrades to the infrastructure, connectivity to public water, asphalt overlay to the existing internal road system, new park signage and updated amenities and landscaping of the parks.
