Jones Lang LaSalle Inc.

12/02/2021 | Press release | Distributed by Public on 12/02/2021 15:50

Sale of Atlanta multi-housing community closes

ATLANTA, Dec. 2, 2021 - JLL Capital Markets announced today that it has closed the sale of The Reserve at Peachtree Corners, a 354-unit, value-add multi-housing asset in Peachtree Corners, one the premier submarkets in Atlanta, Georgia.

JLL represented the seller, CFI Legacy Peachtree Corners, LLC, and the property was managed by RPM Living Investments. Terra Cap Management, LLC acquired the asset.

Built in 1985 and situated on 44.97 acres bordering a charming lake, The Reserve at Peachtree Corners consists of one-, two- and three-bedroom units featuring in-unit washer and dryer connections, modern kitchens with islands, large floor plans, spacious closets, faux hardwood flooring and brick fireplaces in select spaces. Community amenities include a resort-style pool, a private lake overlook, a fully equipped fitness center, a dog park, a lakeside clubhouse and a business center.

Located at 3495 Jones Mill Rd. within a high-growth submarket, the Reserve at Peachtree Corners offers unparalleled access to jobs, educational opportunities, retail and other family amenities in addition to walkability and short commutes. The property offers direct access to Peachtree Industrial Boulevard, which provides easy access to Interstates 285 and 85, as well as all of Atlanta's MSA.

The JLL Capital Markets Sales and Advisory team representing the seller was led by Senior Managing Director John Weber, Managing Director Bill Shippen, Director Vic Ciancetta and Director Amalia Londono.

"The Reserve at Peachtree Corners offered investors a well-managed asset with a sound physical plant that was poised for significant renovations. Our marketing process demonstrated the ample renovation premium on top of the robust organic rent growth. This transaction sets a new pricing level for the Peachtree Corners submarket," said Shippen.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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