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JLL IPT Acquires Metro Atlanta Apartment Community for $70M
JLL Income Property Trust has acquired Siena Suwanee Town Center, a 240-unit apartment community in the north-Atlanta suburb of Suwanee. The sales price was $70 million.
Built in 2018, Sienna Suwanee Town Center features high-end unit finishes and an amenity package that includes a resort-style pool and 24-hour fitness center. The community is also walking distance to numerous retail stores and restaurants, in addition to local community parks.
“This addition to our growing apartment portfolio fits extremely well with our suburban strategy to invest in amenity-rich, newer communities located in highly-rated school districts with high barriers to entry for new competition,” said Allan Swaringen, CEO at JLL Income Property Trust. “This investment brings our aggregate apartment allocation to more than $1 billion, with 3,842 apartment units across 16 communities representing 33 percent of our $3.3 billion, 82-property portfolio.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
