PXV Multifamily Completes First Acquisition: $29.5 Million Purchase of 216 Garden-Style Apartments in Atlanta
PXV Multifamily announced its first acquisition on August 5: in partnership with Pamera North America, it purchased Village on the Green, a 216-unit garden-style apartment community in Atlanta, for $29.5 million. The property was previously managed by Peak Living, and the seller was not disclosed. PXV plans to rename it The Grove at Ben Hill and carry out renovations, including repairs, installation of laundry equipment, and roof replacement.
Last year, Matt Ferrari founded PXV Multifamily, a private multifamily investment and operations company, with the goal of building a national apartment portfolio.
On August 5, PXV Multifamily announced the completion of its first acquisition. The Miami-based company partnered with Pamera North Americato purchase the 216-unit Village on the Green property in Atlanta for $29.5 million, according to a press release.
The press release did not identify the seller, but according to RentCafe, the property was previously managed by Peak Living. According to its website,Peak Living manages communities owned by Peak Capital。
The property was listed for sale in December of last year, and Ferrari said it was the first deal analyzed by the PXV team. "We assumed the loan, so it took some time to complete the loan assumption," he told Multifamily Dive.
PXV Multifamily will rename the gated community The Grove at Ben Hill. The property sits on 16 acres and includes 15 residential buildings, offering one-, two-, and three-bedroom apartments and townhomes, according to the press release. Amenities include a resident clubhouse with a business center and fitness center, a pool with cabanas, a tennis court, barbecue picnic areas, and a playground.
The property was built in 2004, and many units remain in original condition or only partially renovated. PXV will address deferred maintenance, install washers and dryers in all units, and replace roofs, Ferrari said.
"This is not a strategy of trying to pour a lot of money in to dramatically raise rents," Ferrari said. "We just want to operate the property well."
PXV Multifamily plans to fully renovate 12 townhomes on the property that have attached garages. "We think these are unique units in the market," Ferrari said. "There aren't many of this type in this submarket."
Ferrari said The Grove at Ben Hill's proximity to Hartsfield-Jackson Atlanta International Airport and its location in southwest Atlanta made the property attractive. "It's a good blue-collar area of Atlanta with employment opportunities nearby," he said.
A Cushman & Wakefield team based in Atlanta, including Travis Presnell, Wesley Lacefield, Mike Kemether, and James Wilber, marketed the property on behalf of the seller.
Ferrari expects The Grove at Ben Hill to be the first of several acquisitions PXV will make in 2026. But closing deals still depends on sellers bringing properties to market at attractive prices.
"We're trying to buy from what we call 'accidental long-term holders,'" Ferrari said. "It could be a developer who held a property for five years instead of three, a fund at the end of its life cycle, or a syndication."
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