PAMERA North America, LLC (PAMERA NA), based in New York City and part of the real estate family and investment office PAMERA Real Estate Group in Munich, has completed the acquisition of “The Grove at Ben Hill Flats” (formerly “Village on the Green”) in Atlanta, Georgia. The transaction closed at the end of July 2026. The property was acquired through a 50/50 joint venture with Miami-based multifamily investor PXV Multifamily (“PXV”). Total capitalization amounts to approximately USD 32 million.

Property and location
Completed in 2004 and located at 2975 Continental Colony Parkway SW, the community comprises 216 apartments across 16 three-story buildings on a site of approximately 16.2 acres. Average unit size of around 1,106 square feet is generous by market standards; the unit mix consists of 80 one-bedroom, 104 two-bedroom (including twelve townhomes) and 32 three-bedroom apartments. Amenities include a clubhouse, fitness center, swimming pool, tennis courts, dog park and playground.

The property sits in Southwest Atlanta in immediate proximity to Hartsfield-Jackson Atlanta International Airport and to the logistics and distribution corridors along Interstates 75 and 85 – an employment base that generates broad, recession-resilient rental demand. With a population of around 6.3 million and 17 Fortune 500 headquarters, Atlanta ranks among the fastest-growing metropolitan regions in the US Sun Belt.

Investment rationale
The transaction marks a milestone for PAMERA NA: it is the company’s first investment in the workforce housing segment.

Workforce housing refers to attainable rental housing for middle-income households – a segment that benefits from a structural supply gap: in the United States, new supply is delivered almost exclusively at the top end of the market, because construction costs, land prices and financing terms require rents this tenant cohort cannot support. The existing stock therefore consists almost entirely of older assets with very limited replenishment from new construction. The purchase price of approximately USD 137,000 per unit and total capitalization of approximately USD 148,000 per unit sit roughly 25 per cent below estimated replacement cost for comparable assets.

The business plan provides for stabilizing operations alongside a targeted capital program of approximately USD 3 million. The property manager is Greystar, the largest property manager in the U.S., with whom the team has a longstanding relationship.

Cord Ernst, Managing Partner of PAMERA NA: “This transaction reflects exactly how we intend to grow in North America: differentiated assets, sourced in partnership with deeply experienced managers, at attractive valuations. The Grove at Ben Hill Flats brings a well-located community with solid fundamentals in a segment defined by structurally constrained supply – acquired at a meaningful discount to replacement cost.”

Business model and strategy of PAMERA North America
PAMERA NA focuses on the targeted acquisition and development of real estate in dynamic US markets such as New York City, Boston and the Sunbelt states, which offer robust economic fundamentals and long-term growth potential. The focus is on well located residential, logistics and retail assets, optimized where alpha can be created through renovations and repositioning. The objective is to generate stable, sustainable income while fully realizing each property’s development potential.