Milestone Group Completes Acquisition of Legends at Laurel Canyon in Canton Georgia
Milestone Group has completed the acquisition of Legends at Laurel Canyon, a 266-unit, garden-style apartment community in Canton, Georgia. The purchase price was not disclosed.
Canton sits in Cherokee County, a rapidly expanding North Atlanta suburb. Cherokee County has grown over 12% in the last five years and is expected to grow an additional 51% by 2050. Canton’s northern-suburb location has added more than 62,000 residents and close to 30,000 jobs over the last decade. The community provides immediate access to a Publix-anchored shopping center and sits within a five-minute drive of more than three million square feet of retail, dining, and lifestyle amenities. The property is also described as offering strong connectivity to major employment centers, modern healthcare facilities, highly rated schools, and abundant recreational resources.
“Legends at Laurel Canyon represents a compelling opportunity to acquire a high-quality, newer vintage asset in one of metro Atlanta’s fastest-growing submarkets,” said Milestone Managing Director of Acquisitions, Jason Wise.
Legends at Laurel Canyon features large floorplans averaging 1,227 square feet and offers one-, two-, and three-bedroom homes. On-site amenities include an expansive clubhouse, fitness center, resort-style saltwater swimming pool, Amazon Hub Lockers, a car care center, bike racks, and a gated pet park and spa. Apartment finishes include gourmet island kitchens, quartz countertops, ceramic-tiled backsplashes, Nest thermostats, wood-style flooring, and 9-foot ceilings.
Wise highlighted the transaction structure and market fundamentals in the firm’s rationale. Wise added, “The property’s location benefits from favorable long-term supply-demand fundamentals and was acquired at a significant discount to replacement cost through assuming attractive existing financing. This acquisition offers downside protection with substantial upside potential in a market exhibiting the kind of structural growth fundamentals we are actively seeking.”
This acquisition reflects a continued investor focus on newer-vintage, amenity-rich communities in fast-growing suburban submarkets, and on transaction structures that leverage existing financing. Multifamily operators and investors will watch how leasing and operations at Legends at Laurel Canyon perform amid ongoing population and employment gains in the Cherokee County market.
Multifamily Leadership will continue to track transactions and investment strategies that shape growth and innovation across suburban multifamily markets.