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EQ Buys Atlanta Apartments, Flips to Affordable
12th & James, a 214-home luxury apartment community in Atlanta, Georgia, was recently sold for $39 million. The property is at 12th & James, located at 1212 James Jackson Pkwy NW.
JLL worked on behalf of the seller, Aspen Square Management. The buyer was EQ Housing Advisors, Inc., which partnered with Atlantica Properties to convert the property into long-term affordable housing through a public-private partnership. JLL Capital Market’s Investment Sales and Advisory team was led by John Weber, Peter Yorck, Nick Brown and Dean Shoham.
Under the new ownership, all 214 units will be dedicated to long-term affordable housing. Some units will have rental rates as low as $1,071 for a one-bedroom and $1,285 for a two-bedroom.
Built in 2002, 12th & James features 189 partially renovated and 25 classic apartment homes across one-, two- and three-bedroom layouts. Community amenities include a pool, fitness center, business center, outdoor kitchen and off-leash dog park.
- ◦Sale/Acquisition
