JLL Capital Markets announced this week that it has closed the sale of The Reserve at Peachtree Corners, a 354-unit, value-add multi-housing asset in Peachtree Corners.
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 for an undisclosed sum.
Built in 1985 and situated on 44.97 acres bordering a lake, at 3495 Jones Mill Rd., The Reserve at Peachtree Corners consists of one-, two- and three-bedroom units featuring in-unit washer and dryer connections, kitchens with islands, faux hardwood flooring, and brick fireplaces in select spaces. Community amenities include a pool, a private lake overlook, a fully-equipped fitness center, a dog park, a lakeside clubhouse, and a business center.
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,” Shippen said in the announcement. “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.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.