Praedium Group Acquires 316-Unit Sugar Hill Apartment Community
New York-based national real estate investment firm Praedium Group has acquired Broadstone Sugar Hill, a 316-unit multifamily property located in the City of Sugar Hill in metro Atlanta. The sales price and seller was not disclosed.
Broadstone Sugar Hill features unit interior finish levels, modern gourmet kitchens with stainless steel appliances, granite or quartz countertops, Moen fixtures in the kitchen and bathrooms, custom cabinets and shelving, porcelain tile in the bathrooms and push button garbage disposals. The property also features a two-story parking deck in addition to surface parking. Amenities at the property include a resort style pool, entertainment parlor and resident library, fitness center and yoga room, outdoor grilling stations and dining areas.
“Broadstone Sugar Hill is a unique multifamily community adjacent to a successful Town Center redevelopment,” said Peter Calatozzo, principal at Praedium Group. “Residents benefit from having on-site retail and downtown access with walkability to the Town Center amenities, which includes restaurants, boutiques, a museum and art gallery and several other lifestyle offerings. In addition, as our second acquisition in Gwinnet County this year, we believe the Property is well situated to benefit from the broader growth prospects of the county and the Atlanta MSA.”