August 7, 2017 Comments Off on Georgia Multifamily Trades for $47M Views: 718 Georgia, National News, Southeast

Georgia Multifamily Trades for $47M

JLL Income Property Trust paid $47 million to acquire the 210-unit Reserve at Johns Creek Walk, situated in the affluent Atlanta suburb of Duluth, GA. The 10-year-old apartment complex was developed and sold by Atlantic Realty Partners.

Situated on 26 acres at 11055 Bell Rd., Reserve at Johns Creek Walk includes 50,000 square feet of neighborhood retail space and 20,000 square feet of office. The mixed-use development is in the 1,900-acre master-planned Johns Creek.

“The Reserve at Johns Creek furthers our apartment acquisition strategy of identifying suburban locations within highly rated school districts with attractive demographics and significant barriers to entry,” said Allan Swaringen, president and CEO of JLL Income Property Trust. “This investment brings our aggregate apartment allocation to nearly $650 million, with over 2,500 total units, and represents 27 percent of the value of the overall JLL Income Property Trust portfolio.”

Read More at JLL Income Property Trust

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