DALLAS, Ga. — Blaze Capital Partners has acquired Hardy Springs, a 149-unit active adult community in Dallas, approximately 30 miles northwest of Atlanta.
Hardy Springs is a cottage-style community with 149 units spread across 53 buildings. Completed in May 2022, the community is built on 31 acres of land and consists of one- and two-bedroom apartments.
The property marks the firm’s first acquisition of an active adult community, but with several more planned. Blaze now owns six multifamily properties in Georgia, with a total unit count of more than 860.
“The market for active adult rental housing has grown significantly over the past decade, as the baby boomer generation continues to age,” says Eddy O’Brien, co-founder and managing partner of Blaze. “As one of the largest demographics in the U.S., the 55-plus crowd is hitting key life events, such as retirement and becoming empty nesters who have a desire to downsize their living space. Blaze’s bullish active adult strategy seeks to meet the needs of these residents and deliver a move-in ready, maintenance-free lifestyle in Class A communities.”
The property provides 97 single car garages, 52 double car garages, and 29 surface parking spaces.
“We root our investment strategies in long-term demographic and fundamental trends, looking ahead to see what’s next on the multifamily horizon,” says Chris Riley, co-founder and managing partner at Blaze. “Active adult communities are perfectly positioned to capture a growing cohort of active retirees looking for maintenance-free, community-centric lifestyles. The community will fill a growing need in the 55-plus multifamily market and in the Paulding County submarket, and we are excited to begin ramping up our exposure in the sector.”