Monument Square Investment Group and 7Acre Investments Joint Venture Acquires The Cove at Covington Town Center, a 350-unit Class-A Multifamily Community in Covington, GA

A partnership between affiliates of Monument Square Investment Group (“MSIG”) and 7Acre Investments (collectively the “JV”) has acquired The Cove at Covington Town Center (the “Property”). The Property is a 2022-2023-vintage class-A multifamily community comprised of 334 garden-style units across a mix of studio, one-, two- and three-bed layouts and 16 three-bed townhomes with attached garages. The Property features luxury interior finishes, spacious unit layouts and a best-in-class amenity set that includes a café, modern fitness center, co-working space, five-acre meadow park with walking trails, and resort-style pool. The Cove is located in the highly-desirable Covington Town Center (“CTC”) masterplan, a 180-acre mixed-use town center in the heart of Covington, GA. CTC includes a host of shopping, dining and entertainment options anchored by a ±175,000 Publix that opened in January 2023. The Property is located approximately 30 miles east of downtown Atlanta in Covington, GA, the seat of Newton County which is one of the fastest-growing submarkets in the Atlanta MSA with respect to population and employment.