Jair Lynch Makes First Foray into Atlanta with Two Multifamily Acquisitions
Washington, DC-based Jair Lynch Real Estate Partners and Nuveen Real Estate have acquired two multifamily communities in the Atlanta submarket of Clarkston, GA.
Paul Vetter of Berkadia served as seller’s real estate broker. Nixon Peabody served as purchaser’s transaction counsel. CBRE provided financing for the transaction.
The purchases of Clarkston Station and Woodside Village mark Jair Lynch’s entrance into the Atlanta market as part of a larger expansion throughout the Southeast. The deals present an opportunity for Jair Lynch and Nuveen to improve and preserve over 700 units of housing while advancing their shared goals of uplifting and revitalizing communities through their investment in high-quality, sustainable neighborhood assets.
Clarkston Station and Woodside Village currently operate under the Section 42 Low-Income Housing Tax Credit program with affordability restrictions through 2034 and 2036, respectively. As such, a collective 95% of the units will continue to serve individuals and families earning up to 60% AME for at least the next 12-14 years.
Jair Lynch’s attainable housing strategy aims to increase and preserve attainable housing for individuals and families earning between 30% and 120% AMI and has now invested over $1.3 billion toward this initiative.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.